Crude oil prices fell slightly in Asia on Thursday as U.S. industry estimates of stocks showed a surprise build and in cautious trade ahead of the start of an OPEC meeting in Vienna.
The American Petroleum Institute's weekly crude inventory report showed an unexpected build of 2.35 million barrels in crude oil, well off the 3.1 million barrels decline seen. Distillates stocks dropped 1.15 million barrels, more than the 400,000 barrels fall seen and gasoline stock declined 1.48 million barrels, slightly more than expected.
Today, Crude oil has support at 3270---3220 and resistance at 3330. Close above 3330 will take to 3380---3440 mark else it could test its support level of 3270---3220 again. More and moe downside panic will see only close below 3220 mark.
3100 act as major support... We will try to buy and accumulate Crude oil in panic but trade with levels only
More will update soon!!
