Crudeoil trading range for the day is 5086-5400.
* Crude oil rallied after Saudi Arabia and Russia ruled out any immediate increase in production despite calls by U.S. President Donald Trump for action to raise global supply.
* Amid a tightening market, U.S. commercial crude oil inventories are at their lowest level since early 2015.
* OPEC as well as top producer Russia are discussing raising output to counter falling supply from Iran, although no decision has been made public yet.
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