Crude oil ended slightly higher aided by the strength of gasoline, which rose for a sixth day in anticipation of higher demand this summer driving season. OPEC is likely to increase production quotas to 27 million to 27.5 million barrels a day when it meets June 8 in Vienna to "assuage" pressure on consumer nations to release emergency stockpiles, JPMorgan said. U. S. oil demand in March rose 0.9%,or 178,000 barrels a day, from a year ago, to 19.248 million barrels a day, revised data released Friday by the Energy Information Administration show. Demand in the world's biggest oil consumer was revised up from a earlier estimate of 0.7% growth. Now technically market is trading in the range as RSI for 18days is currently indicating 45.38, where as 50DMA is at 4793.44 and crude is trading below the same and getting support at 4546 and below could see a test of 4539 level, And resistance is now likely to be seen at 4561, a move above could see prices testing 4569.

Trading Ideas:

Crude trading range is 4539-4569.

Crude oil ended slightly higher aided by the strength of gasoline

Crude looks to test support at 4521 and resistance is seen at 4576.

U. S. oil demand in March rose 0.9%,or 178,000 barrels a day, from a year ago