![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjiY-wiNHPr3C04bSORn47xNZipZ0oEsPM_BSgN3viX-OiAafx14iSxBycAYM9uvOnhURZdK32Ext0IDTmbSzeQR-l_W__D6z7RtQu8HQ8agMKKp-8pw1-sFJEaNT-dyUtZEg4aRdKeBvM/s320/crude-oil-trades-up11.jpg)
Crudeoil trading range for the day is 3919-4039.
* Crude oil gained as OPEC's de facto leader Saudi Arabia appeared to deepen the group's supply cuts aimed at tightening markets
* Traders also pointed to the political and economic crisis in OPEC-member Venezuela as a driver for oil prices.
* Offsetting OPEC efforts to prop up prices and the impact of disruptions like Venezuela is a surge in U.S. oil supply.
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