EPIC RESEARCH MCX Crudeoil UPDATE OF 2 November 2018

Posted by Commodity Updates by Epic Research on 11:27:00 with No comments

Crudeoil trading range for the day is 4487-4947.

* Crude oil dropped amid signs of rising supply and growing concerns that demand might weaken on the prospect of a global economic slowdown.

* U.S. Energy Information Administration data showed crude oil inventories climbed for a sixth straight week.

*U.S. crude production stood at 11.3 million barrels per day in August, up 3.8% compared to July, and had surged 22.7% from August last year.

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