EPIC RESEARCH MCX CRUDE OIL UPDATE OF 4 MAY 2016

Posted by Farhan Khan on 12:16:00 with No comments
Crudeoil trading range for the day is 2821-3057.              
Crude oil prices dropped as rising output from the Middle East and North Sea renewed concerns about a global supply overhang.         
Iraq said its oil shipments from southern fields averaged 3.364 million barrels per day (bpd) in April, up from 3.286 million in March.           
According to private forecaster Genscape, supply levels at the key U.S. delivery hub in Cushing, Oklahoma rose by 871,000 barrels last week.

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