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Wednesday, 21 December 2016

EPIC RESEARCH MCX CRUDE OIL UPDATE OF 21 DECEMBER 2016

Crudeoil trading range for the day is 3564-3710. Crude oil gained on expectations of a U.S. crude inventory draw, although trading activity was muted as markets start to wind down ahead of the Christmas. OPEC's vow to cut production lifted oil to its highest since mid-2015, but the rally stalled due a strong U.S. dollar The American Petroleum Institute said that crude inventories in the U.S. fell by 4.15 million barrels at the end of last week.

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