EPIC RESEARCH MCX CRUDE OIL UPDATE OF 9 MAY 2016

Posted by Farhan Khan on 12:04:00 with No comments
Crudeoil trading range for the day is 2860-3078.              
Crude oil gains as the dollar softened in response to weaker than expected U.S. jobs data and the domestic rig count slid to fresh all-time record low.    
Oil services firm Baker Hughes said in its weekly rig count report that oil rigs in the U.S. fell by four to 328 for the week ending on April 29.       
The U.S. Department of Energy reported that nationwide production fell by 113,000 barrels per day , marking the strongest weekly decline since last July.      
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