EPIC RESEARCH MCX Crudeoil UPDATE OF 9 November 2018

Posted by Commodity Updates by Epic Research on 12:16:00 with No comments

Crudeoil trading range for the day is 4338-4562.

Crude oil prices dropped as investors focused on the pace of growth in global crude supply, which is increasing more quickly than many had expected.

The EIA data showed that crude oil inventories increased by 5.783 million barrels in the week to Nov. 2.

Chinese crude imports soothed some concern that demand in the world's largest commodity buyer may be flagging just as global supply is rising.

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