EPIC RESEARCH MCX CRUDE OIL UPDATE OF 02 JUNE 2017

Crudeoil trading range for the day is 3088-3210.Crude oil gains after data showed that supplies of U.S. crude fell more than expected and were down for the eighth consecutive week.EIA showed crude inventories dropped 6.4mbls, exceeding the 4.4mbl drop forecast while US production increased continue to boost outputTraders remain unconvinced that OPEC's supply quota plan will eat away at a stubborn global supply glut.

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