Crude rose lifted by better-than-expected data on German business sentiment that helped ease worries about the euro zone debt crisis and improve the outlook for oil demand. U.S. crude oil demand continued to fall in March, while gasoline consumption rose for the second month in a row, the industry group American Petroleum Institute said. Iran is exporting 2.1 million barrels per day of crude oil, compared to an average of 2.3 million bpd in the last Iranian year ended March 19, Platts quoted Iranian oil officials as saying. European Union member governments could review in the next two months an embargo on Iranian oil imports due to take effect in July, a senior EU official said. South Sudan said it would withdraw its troops from a disputed oil region more than a week after seizing it from Sudan, pulling the countries back from the brink of war. Meanwhile, International Monetary Fund Managing Director Christine Lagarde said that while dark clouds remain over Europe's horizons, the fund expects member countries to bolster a firewall to contain the debt crisis, which further boosted crude. Now technically market is trading in the range as RSI for 18days is currently indicating 54.95, where as 50DMA is at 5414.48 and crude is trading above the same and getting support at 5441 and below could see a test of 5438 level, And resistance is now likely to be seen at 5447, a move above could see prices testing 5450.

Trading Ideas:

Crude trading range for the day is 5438-5450.

Crude rose lifted by better-than-expected data on German business sentiment that helped ease worries about euro crisis

Iran is exporting 2.1 mln barrels per day of crude oil, compared to an average of 2.3 mln bpd in the last Iranian year

U.S. crude oil demand continued to fall in March, while gasoline consumption rose for second month in a row - API