US crude oil moved lower on Friday after news came in that Libya hopes to resume production at one of its largest oilfields.

A decrease in U. S. jobless claims and an increase in manufacturing activity strengthened the U. S. dollar, also put pressure on oil prices. Inventory is also expected to remain down by 2.3mln barrels. Crude oil prices are expected to remain down as optimism in Libya over starting its largest oil field can help pushing the crude oil prices lower.

For the coming week 5650/5500 will act as major supports levels whereas 6150/5900 will act as major resistance in MCX Crude oil January futures. For the next week, trader can go for sell on higher level strategy, if MCX Crude January future sustain below 5900 levels then it could test the levels 5810/5650.