Crude oil ended lower as euro slumped and the dollar strengthened due to uncertainty about how Ireland's debt bailout would be carried out. A Saudi oil industry official told that oil at $80 per barrel was a good price under current market conditions. China's refined fuel stocks fell in October versus September, dropping for the eighth month in a row, led by diesel as a government energy-saving campaign spurred diesel use and forced oil firms to import diesel for the first time in two years. Now support for the crude is seen at 3681 and below could see a test of 3647. Resistance is now likely to be seen at 3768, a move above could see prices testing 3821.

Trading Ideas:

Crude trading range is 3647-3821.

Crude oil ended lower as euro slumped and the dollar strengthened

Crude looks to test support at 3680 and resistance is seen at 3744.

China's refined fuel stocks fell in October versus September