Crudeoil trading range for the day is 3505-3631. Crude oil prices dropped after data showed that oil supplies in the U.S. registered an unexpected inventory build. Crude inventories rose 2.3 million barrels in the week to Jan. 13, compared with expectations for an increase of 342,000 barrels. World oil markets are slowly tightening as demand rises while investors wait to see if production cuts agreed by OPEC and other producers will be implemented as promised.
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