Crude oil ended higher as uncertainty over when an Enbridge oil pipeline would resume flowing and upbeat Chinese economic data combined to push prices to their highest levels in more than four weeks. Hurricane Igor churned westward in the Atlantic Ocean as a dangerous Category Four storm and could strengthen even further, forecasters said. However, Igor, capable of causing catastrophic damage, posed no immediate threat to land or energy interests. U.S. crude supplies probably fell for a second week as imports dropped before refiners close plants for maintenance and a pipeline shutdown threaten to curtail shipments from Canada. Now support for the crude is seen at 3561 and below could see a test of 3529. Resistance is now likely to be seen at 3621, a move above could see prices testing 3649.

Trading Ideas:

Crude trading range is 3529-3649.

Crude oil ended higher as uncertainty over when an Enbridge oil pipeline

Crude oil is taking support at 3562 and resistance at 3622 level

U.S. crude supplies probably fell for a second week as imports dropped