EPIC RESEARCH MCX CRUDE OIL UPDATE OF 25 JULY 2016

Crudeoil trading range for the day is 2906-3062.              
Crude oil prices dropped as the U.S. heads to the end of the summer-driving season with ample inventories.
Pressure also seen after the fourth weekly rise in the U.S. oil rig count added to worries about a global crude glut.      
Record June demand of the fuel wasn’t enough to make a dent in stockpiles that ended the month at the highest since 1984 for this time of year, the SPI data.


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