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Monday, 3 April 2017

EPIC RESEARCH MCX CRUDE OIL UPDATE OF 03 April 2017

Crudeoil trading range for the day is 3229-3315. Crude oil prices gained on a growing sense that OPEC and non-member Russia would extend their production cut, seeking to drive the market higher. The U.S. energy department released report saying the country's oil demand for that month was up 0.9 percent at 19.234 million barrels per day. Energy services firm Baker Hughes said U.S. oil rigs increased by 10 to 662 in the week, making the first quarter the strongest for oil rig additions since mid-2011.

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