April crude oil prices traded higher during the initial morning hours, supported by sharply higher Brent crude oil prices, weakness in the US dollar and upbeat German sentiment readings. It seems that growing tensions between Iran and Western nations has increased after UN inspectors declared their visit to Iran's nuclear facilities a failure. Some traders suggested that Iran's resistance to further investigations has sparked greater talk of conflict. The outside market tone this morning has injected further support into crude oil, with modest gains in global stock markets and new 2.5 month high in the Euro currency vs. the US dollar. However, it seemed that the latest European 2012 growth forecasts that call for a mild recession partially tamped down optimism from a better than expected German business sentiment reading. The recent surge in crude oil prices has sparked greater talk of their potential threat on global growth prospects, and that is a factor that is likely to gain more attention from political leaders. In fact, a number of US leaders have brought up the topic of releasing crude oil supplies from US strategic petroleum reserves. Expectations for today's EIA inventory report are mixed, with the market leaning toward a slight draw of around 250,000 to 500,000 barrels.