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`Crude oil is also expected to trade sideways. Crude oil futures rose Wednesday and held above USD 82 a barrel for much of the Asian trading day as a weaker dollar and a larger-than-expected draw on US gasoline stocks buoyed prices ahead of key weekly inventory data,“ said SMC in a report.

“The American Petroleum Institute, an industry group, late Tuesday reported a 403,000-barrel increase in crude stocks, lower than expectations of a 1 million barrel increase. Gasoline inventories fell six times more than expected, at 3.65 million barrels, implying strong demand at the world`s largest oil consumer,“ it added.

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