Crude oil prices settled firm on short covering on Saturday after prices fell on Friday as the dollar bounced pressuring oil. China's crude oil imports hit a record high of 23.3 million tonnes, or 5.7 million barrels per day, in September, up from the 20.9 million tonnes recorded in August or 17.2 million tonnes in the same period of last year, according to statistics released by the General Administration of Customs of China. Seaborne oil exports by OPEC, excluding Angola and Ecuador, will rise by 490,000 barrels per day in the four weeks to Oct. 30. Now support for the crude is seen at 3603 and below could see a test of 3600. Resistance is now likely to be seen at 3611, a move above could see prices testing 3616.

Trading Ideas:

Crude trading range is 3600-3616.

Crude oil prices settled firm on short covering on Saturday after prices fell on Friday

Crude looks to test support at 3578 and resistance is seen at 3634.

China's crude oil imports hit record high of 23.3 million tonnes or 5.7 million bpd in September