Crude oil prices ended flat amid concerns about the euro zone economy and as investors continued to square positions. Oil may decline next week on speculation that the U. S. Energy Department will report an increase in supplies after the biggest drop in more than eight years in this week’s data. China has extended its 5 percent resource tax on domestic sales of crude oil and natural gas to 12 western regions and provinces, a government official said. Now support for the crude is seen at 4051 and below could see a test of 4044. Resistance is now likely to be seen at 4063, a move above could see prices testing
4068.

Trading Ideas:

Crude trading range is 4044-4068.

Crude oil prices ended flat amid concerns about the euro zone economy

Crude looks to test support at 4028 and resistance is seen at 4084.

Oil may fall on outlook for U. S. supply increase