Crude oil prices ended higher on units being shut at a key Northeast refinery, lifting crude prices from earlier losses. The U.S. National Hurricane Center said Tropical Storm Matthew formed over the western Caribbean. ConocoPhillips has started 45 days of work at its 238,000 barrel per day Bayway refinery in Linden, New Jersey, ahead of the start-up of a new crude distillation unit next month. Now support for the crude is seen at 3408 and below could see a test of 3363. Resistance is now likely to be seen at 3478, a move above could see prices testing 3503.

Trading Ideas:

Crude trading range is 3363-3503.

Crude oil prices ended higher on units being shut at a key Northeast refinery

Crude oil is taking support at 3420 and resistance at 3478 level

U.S. National Hurricane Center said Tropical Storm Matthew formed over western Caribbean.