Crude oil prices slumped as the dollar's recovery from an earlier dip sparked a sell-off while doubts resurfaced about the extent of potential U.S. monetary easing. China's apparent oil demand rose to the second highest on record in September, up 6.2 percent from a year earlier to about 8.68 million barrels per day, just off the June record of 8.9 million bpd. China's commercial crude oil stocks fell by 3.4 percent in September versus August, the first decline in four months. Now support for the crude is seen at 3582 and below could see a test of 3553. Resistance is now likely to be seen at 3664, a move above could see prices testing 3717.

Trading Ideas:

Crude trading range is 3553-3717.

Crude oil prices slumped as the dollar's recovery from an earlier dip sparked a sell-off

Crude looks to test support at 3582 and resistance is seen at 3642.

China's commercial crude oil stocks fell by 3.4 percent in September versus August