EPIC RESEARCH MCX CRUDE OIL UPDATE OF 6 MAY 2016

Posted by Farhan Khan on 11:24:00 with No comments
Crudeoil trading range for the day is 2840-3118.              
Crude oil prices gained as prospects over supply disruptions from Canada a Libya offset a stronger-than-expected rise in US crude inventories.  
Moreover, escalating tension in Libya is also supporting oil prices as it may reduce crude oil supplies from the North African nation.
US stockpiles continued to grow last week, hitting a fresh record high, increasing worries that the global supply glut will not ease any time soon. 

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