Crude oil prices settled down stung by a rash of disappointing U. S. economic data and the highest inventories in nearly 27 years. Crude oil imports increased 0.1 million barrels week-over-week. Over the last four weeks, imports have averaged 9.9 million barrels per day, 0.7 million barrels per day higher than the year ago period. Now support for the crude is seen at 3475 and below could see a test of 3445. Resistance is now likely to be seen at 3556, a move above could see prices testing 3607.

Trading Ideas:

Crude trading range is 3445-3607.

Crude oil prices settled down stung by rash of disappointing U.S. economic data

Crude oil is taking support at 3475 and resistance at 3532 level

Crude oil imports increased 0.1 million barrels week-over-week