Crude oil prices fell on concerns over the outlook for the global economy ahead of a key Federal Reserve meeting on U.S. monetary policy. U.S. crude oil inventories likely fell 1.5 million barrels last week due to lower imports from Canada because of the Enbridge pipeline outage. The U.S. National Hurricane Center said Tuesday there was a 10 percent chance that a tropical wave near the eastern Caribbean islands would develop into a tropical depression over the next couple of days. Now support for the crude is seen at 3459 and below could see a test of 3434. Resistance is now likely to be seen at 3514, a move above could see prices testing 3544.

Crude trading range is 3434-3544.

Crude oil prices fell on concerns over the outlook for the global economy

Crude oil is taking support at 3459 and resistance at 3514 level

Today crude oil inventories: Exp: -1.5M Prev: -2.5M