Thursday, 3 August 2017

EPIC RESEARCH MCX CRUDE OIL UPDATE OF 03 AUGUST 2017

Crudeoil trading range for the day is 3078-3192. Crude oil gained but remain below $50 mark with rising US fuel inventories with ongoing high supplies from producer. Energy Information Administration said in its weekly report that crude oil inventories fell by 1.5mbls in the week ended July 28. OPEC is scheduled to hold a meeting next week to review members’ commitments to the production caps they have agreed upon to cut the global glut.



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