Crude-oil prices fell weakening as the latest collection of U. S. economic data failed to provide a convincing picture that economic recovery would come fast enough to ramp up energy demand. Oil had reached an intraday high just short of $84 a barrel last Monday, the highest it's been in more than a year, buoyed by the combination of cold weather, reports of rising demand from China and a weakening U. S. dollar.

The International Energy Agency said 2010 global oil demand will reach the highest level since 2007, but trimmed by 20,000 barrels per day its expectations for the rise. Now support for the crude is seen at 3573 and below could see a test of 3570. Resistance is now likely to be seen at 3581, a move above could see prices testing 3586.

Trading Ideas:

Crude trading range is 3515-3635.

Crude oil ended lower as milder Northeast temperatures signaled weaker heating oil demand.

Now support for the crude is at 3558 and resistance is at 3598 level.

The EIA said 2010 global oil demand will reach the highest level since 2007.

SELL CRUDE JAN @ 3575-3585 SL 3608 TGT 3558-3542-3525.MCX