Crude oil prices rebounded as concerns about Ireland's debt crisis eased, weakening the dollar and boosting investor appetite for risk in stocks and other commodities. Worries that would brake China's oil demand growth had weighed on oil prices. U.S. government data showing an unexpected and large drop in domestic crude stocks last week had failed to stem losses on Wednesday, but were seen as supportive on Thursday. Now support for the crude is seen at 3747 and below could see a test of 3718. Resistance is now likely to be seen at 3795, a move above could see prices testing 3814.

Trading Ideas:

Crude trading range is 3718-3814.

Crude ends higher as concerns on Ireland ease

Crude looks to test support at 3747 and resistance is seen at 3795.

Worries that would brake China's oil demand growth had weighed on oil prices