October crude oil traded higher during the early morning hours, helped by weakness in the US dollar, a rally in global equity markets and ideas that Fed Chairman Bernanke is willing to pursue more stimulus measures. Some traders also suggested that there was a sense of relief in the markets following Hurricane Irene, which has now been downgraded to a tropical cyclone. With storm fears easing, the crude oil market will probably turn its focus back to the US economy. While last week's Durable Goods Orders and Bernanke's speech were viewed as positives, the market remains concerned with weak economic data Friday that showed US Q2 growth lower than expected. That probably puts an added level of importance on this morning's US economic data on July personal Income and Spending for any signs of improvement. The Commitments of Traders Futures and Options report as of August 23rd showed non-commercial traders were net long 180,497 contracts, an increase of 4,013. Non-commercial and nonreportable traders combined held a net long position of 196,447 contracts, for an increase of 6,194 on the week. The speculative buying trend is seen as a positive force that is expected to continue until support levels are violated.