Crudeoil trading range for the day is 3347-3477. Crude oil gained buoyed by comments from Saudi Arabia’s Crown Prince backing the extension of OPEC-led output cuts. Saudi Arabia’s Crown Prince Mohammad bin Salman told that the kingdom would support the extending the output cut deal in a bid to stabilise oil demand and supply. Crude oil inventories rose by 856,000 barrels, according to the EIA, marking the first increase in five weeks.
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