Thursday, 8 June 2017

EPIC RESEARCH MCX CRUDE OIL UPDATE OF 08 JUNE 2017

Crudeoil trading range for the day is 2853-3167. Crude oil dropped after data showed that U.S. crude supplies rose for the first time in nine weeks, underlining worries over a global supply glut. The U.S. Energy Information Administration said in its weekly report that crude oil inventories rose by 3.3 million barrels in the week ended June 2. Inventories of US crude rose by roughly 3.3m barrels in the week ended May 26, confounding expectations of draw of around 3.5m barrels.

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