EPIC RESEARCH MCX CRUDE OIL UPDATE OF 14 JUNE 2018

Crude oil trading range for the day is 4429-4557. Crude oil prices settled higher as data showed a massive draw in U.S. crude supplies despite an ongoing expansion in output. Inventories of U.S. crude fell by 4.143 million barrels for the week ended June 8, well above expectations for a draw of 1.440 million barrels. The API reported that crude oil inventories jumped 830,000 barrels last week to 433.7 million, as U.S. crude production surged 28% in the last two years.

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