Crude oil rose lifted by the weak dollar after a government oil inventory report showed crude stocks rose last week. The U. S. Energy Information Administration's weekly inventory report showed crude oil stockpiles rose 1.0 million barrels to 337.8 million in the week to Nov. 20.

Nigeria will export an average of 2.01 million bpd of crude oil in January, up from a revised 2.0 million bpd in December and the highest volume since July. Now support for the crude is seen at 3523 and below could see a test of 3476. Resistance is now likely to be seen at 3596, a move above could see prices testing 3622.

Trading Ideas:

CRUDE TRADING RANGE IS 3510-3610.

CRUDE OIL ROSE LIFTED BY THE WEAK DOLLAR AFTER CRUDE STOCKS ROSE

BUY CRUDE DEC @ 3560-3570 SL 3542 TGT 3584-3608-3630.MCX

NOW CRUDE IS TAKING SUP AT 3544 BELOW THIS LOOKS TILL 3520-3500.

CRUDE OIL STOCKPILES ROSE 1.0 MILLION BARRELS TO 337.8 MILLION IN THE WEEK