Crude oil settled down -0.63% at 6153 prices eased in thin trade on Monday as traders locked in profits after prices lifted to three-month highs in the prior session and investors took profits ahead of year-end holidays, but the threat of supply disruptions in South Sudan and Libya limited losses. Some market participants believe the Fed will likely reduce its bond purchases by USD10 billion in each of its next seven meetings before ending the program in December 2014, amid indications of an improving U. S. economy. The Commerce Department reported on Friday that the U. S. gross domestic product expanded by 4.1% in the third quarter, well above consensus forecasts for 3.6% growth, which sent oil prices rising on hopes for faster economic recovery. The Federal Reserve's Wednesday decision to trim its USD85 billion monthly bond-buying program by USD10 billion beginning in January also bolstered prices as well by further stoking expectations for more pronounced economic growth down the road. Support seen as escalating violence in South Sudan threatens the country's 245,000bpd oil output. While U. N. chief Ban Ki-moon asked the U. N. Security Council on Monday to send 5,500 more peacekeepers to the African nation as soon as possible to protect civilians from worsening violence. In Libya, more than 1 million bpd has been cut off as ports were shut by a group demanding greater autonomy. Libya's oil minister said on Saturday force should be used to reopen oil ports in the eastern part of the country which have been closed for five months. Technically market is getting support at 6129 and below same could see a test of 6105 level, And resistance is now likely to be seen at 6183, a move above could see prices testing 6213.

Trading Ideas:

Crudeoil trading range for the day is 6105-6213.

Crude oil slipped as traders booked profits though refinery strikes in France and internal strife in producers Libya and South Sudan checked losses.

Escalating violence in South Sudan threatens the country's 245,000 barrels per day (bpd) oil output.

China's crude oil imports in November from Iran were 2.21 million tonnes, up 25.9 percent from the same month last year.