Thursday 5 May 2016

EPIC RESEARCH MCX CRUDE OIL UPDATE OF 5 MAY 2016

11:54:00

Crudeoil trading range for the day is 2830-3030.
Crude oil dropped after data showed U.S. crude oil stockpiles rose more than expected to fresh record highs last week as imports ticked higher
Support seen as traders paid close attention to developments in Canada, where boomtown Ft. McMurray was evacuated due to an approaching wildfire.
The latest EIA weekly inventory report showed US crude oil inventories growing by 2.8mbls in the week ending April 29.
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