EPIC RESEARCH MCX CRUDE OIL UPDATE OF 15 JUNE 2017

Crudeoil trading range for the day is 2786-3026.Crude oil dropped hit by an unexpected large build in gasoline inventories and an international outlook that suggests a big increase in supply in the coming year.Inventories of U.S. crude rose by roughly 1.66m barrels in the week ended June 2, far below expectations of draw of around 2.7m barrels.OPEC's pledge was to cut some 1.2 million bpd, while other producers including Russia would bring the total reduction to almost 1.8 million bpd.



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