Crude oil rose as a batch of encouraging economic data from the US propped up hopes that demand from the major energy consumer would pick up. OPEC meets in Vienna next month and is expected to keep its oil production targets unchanged. Iran's OPEC governor expects oil prices to reach $80 per barrel by the start of winter, assuming there are no major changes in the market. Now support for the crude is seen at 3530 and below could see a test of 3469. Resistance is now likely to be seen at 3624, a move above could see prices testing 3657.

Trading Ideas:

Crude trading range is 3469-3657.

Crude oil rose as a batch of encouraging economic data from the US propped up hopes

Crude looks to test support at 3530 and resistance is seen at 3624.

OPEC meets in Vienna next month and is expected to keep its oil production targets unchanged