EPIC RESEARCH MCX CRUDE OIL UPDATE OF 3 MAY 2018

Crude oil trading range for the day is 4451-4561. Crude oil prices settled higher despite data showing a build in crude oil and gasoline supplies for the second-straight week. The U.S. EIA showing U.S. crude inventories jumped by 6.2 million barrels to 435.96 million barrels in the week to April 27, marking a 2018 high. U.S. oil production also hit a fresh record of 10.62 million barrels per day (bpd), a jump of more than a quarter since mid-2016.

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