EPIC RESEARCH MCX CRUDE OIL UPDATE OF 15 JUNE 2016

Crudeoil trading range for the day is 3215-3295.              
Crude oil dropped as investors ignored signs of market tightness to focus on concerns over global growth.      
Global oil markets are closer to balance in the second half of 2016, as oil demand is significantly stronger than was expected and unexpected supply disruptions arose, IEA said.  
The IEA has revised its expectations for global oil demand in the first quarter of 2016 up to 1.6 million bpd and growth in 2016 should reach 1.3 million bpd.

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