EPIC RESEARCH MCX CRUDE OIL UPDATE OF 07 JUNE 2017

Crude oil trading range for the day is 3013-3137.Crude oil holds its gain as traders bet that US government data will show a ninth consecutive weekly decline in crude supplies.
Support seen by heightened political tensions in the Middle East and by signs of a gradual drawdown of bloated fuel inventories in the US.EIA raised its production outlook for this year and next. For 2018, it sees average output of 10.01mbpd, up 0.4% from its previous forecast.

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