EPIC RESEARCH MCX Crudeoil UPDATE OF 25 January 2019

Posted by Commodity Updates by Epic Research on 11:34:00 with No comments

Crudeoil trading range for the day is 3675-3863.

Crude oil gained boosted by the U.S. threat of sanctions on Venezuela.

Friday, January 25, 2019 U.S. crude inventories sharply rose by 8 million barrels last week, the Energy Information Administration said.

Russia & Saudi Arabia Energy Ministers canceled their planned meeting to discuss their recent agreement to curb oil production reached due to “scheduling conflicts.”

Crude inventories rose by 6.6 million barrels in the week ended Jan. 18 to 443.6 million, according to the American Petroleum Institute (API).

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