EPIC RESEARCH MCX CRUDE OIL UPDATE OF 14 DECEMBER 2017

Crudeoil trading range for the day is 3593-3755.Crude oil prices settled lower after data showing crude stockpiles fell for the second straight week failed to offset a larger-than-expected build in gasoline supplies. U.S. crude oil stockpiles fell by 5.1 million barrels, the fourth consecutive week of declines, to 442.99 million barrels the lowest since October 2015. OPEC Secretary General Mohammad Barkindo said the oil market rebalancing process is well under way and commercial oil stocks in the OECD fell further in November.



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