EPIC RESEARCH MCX CRUDEOIL UPDATE OF 24 MAY 2018

Crudeoil trading range for the day is 4853-4977.

Crude oil prices settled lower following data showing an unexpected jump in U.S. crude supplies.

Commercial U.S. crude inventories rose by 5.8 million barrels in the week to May 18, beating expectations for a decrease of 1.6 million barrels.

OPEC may decide to raise oil output in June due to concerns about Venezuela production decline and possible Iran oil supply shortage.


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