Crude oil ended positive on Saturday on short covering after prices dropped last four days consecutively on speculation that the U.S. economic recovery is slowing, reducing fuel use in the world’s biggest oil-consuming country. US refineries operated at 87.6 percent of capacity last week, down 0.7 percentage point from the prior week, an Energy Department report showed on Sept. 15. Now support for the crude is seen at 3370 and below could see a test of 3365. Resistance is now likely to be seen at 3380, a move above could see prices testing 3385.

Trading Ideas:

Crude trading range is 3365-3385.

Crude oil ended positive on Saturday on short covering

Crude oil is taking support at 3352 and resistance at 3400 level

US refineries operated at 87.6 percent of capacity last week