EPIC RESEARCH MCX CRUDE OIL UPDATE OF 27 JULY 2016

Crudeoil trading range for the day is 2843-2963.              
Crude oil dropped sliding below the $43-level for the first time since April as a global glut of crude and refined products weighed on markets.    
The renewed gain in U.S. drilling activity fueled speculation that domestic production could be on the verge of rebounding in the weeks ahead.            
Despite being in the midst of the peak summer-driving season in the U.S., gasoline stocks are well above the upper limit of the average range, according to the EIA.

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