Crude ended firm Saturday as traders closed their books on weekend after trading lower Friday as China moved to tighten bank reserve requirements, while a possible bailout for Ireland loomed. The Organization of Petroleum Exporting Countries will increase crude loadings by 1.2 percent this month on rising exports to Asia. China’s oil processing rose to a record last month, according to government statistics published on Nov. 11. OPEC, which supplies about 40 percent of the world’s crude, said in a Nov. 4 report it expects emerging markets to drive oil demand growth in the next five years. Now support for the crude is seen at 3749 and below could see a test of 3744. Resistance is now likely to be seen at 3759, a move above could see prices testing 3764.

Trading Ideas:

Crude trading range is 3744-3764.

Crude oil ended firm Saturday as traders closed their books on weekend

Crude looks to test support at 3720 and resistance is seen at 3785.

OPEC will increase crude loadings by 1.2 percent this month on rising exports to Asia