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Friday 13 May 2016

EPIC RESEARCH MCX CRUDE OIL UPDATE OF 13 MAY 2016

Crudeoil trading range for the day is 3003-3183.              
Crude oil gained supported by data from the IEA showing tightening supply in addition to a surprise drop in U.S. crude inventories.     
The IEA raised its 2016 global oil demand growth forecast to 1.2 million barrels per day (bpd) from its April forecast of 1.16 million.              
Unplanned disruptions to oil output could help run down a global overhang of unused crude this year, the International Energy Agency said.

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