EPIC RESEARCH MCX CRUDE OIL UPDATE OF 10 MAY 2016

Posted by Farhan Khan on 14:17:00 with No comments

Crudeoil trading range for the day is 2809-3097.              
Crude oil dropped after traders took in their stride the impact of wildfires on Canada's oil output and after another inventory build at the U.S. hub for crude prices.             
Khalid al-Falih said that the world's largest crude exporter was committed to meeting demand and would maintain its stable petroleum policies.        
World oil supply remains in a glut, however, with an estimated oversupply of around 1.5 million bpd.

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