Crude oil settled lower as a rising inventories, higher U.S. jobless claims and the dollar's strength helped pressure oil. Saudi Arabia will supply full contracted volumes of crude in May to at least seven Asian term buyers, steady to April levels.  U.S. oil demand in January was revised down by 1.44 percent from the EIA's previous estimate. Now support for the crude is seen at 3757 and below could see a test of 3714. Resistance is now likely to be seen at 3844, a move above could see prices testing 3888.

Trading Ideas:

Crude trading range is 3714-3888.

Crude oil settled lower due to rising inventories, higher U.S. jobless claims and strong dollar

Support for the crude is at 3778 and resistance is at 3822.

Saudi Arabia will supply full contracted volumes of crude in May

BUY CRUDE APR @ 3790-3800 SL 3776 TGT 3812-3835.MCX