Crude Oil Trading Range For The Day Is 3667-3747

Crude Oil on MCX settled up 0.49% at 3716 rose as the dollar index declined for the third consecutive session, following an array of data from the US, the world's largest energy consumer, including the EIA inventory report, and ahead of the final Congress vote on the massive US tax reform bill. Yesterday in the session US data showed existing home sales rose 5.6% in November to annualized 5.81 million units, compared to a 2.4% rise in October to 5.48 million, while expected a 0.9% rise to 5.53 million.

Trading Ideas:

* Crude Oil trading range for the day is 3667-3747.

* Crude Oil prices settled higher after data showed crude stockpiles fell for the fifth straight week.

* The ongoing North Sea Forties pipeline outage also continued to support sentiment.

* Inventories of U.S. crude fell by roughly 6.5 million barrels for the week ended Dec. 15, beating expectations of a draw of 3.8 million barrels.

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