EPIC RESEARCH MCX Crudeoil UPDATE OF 8 February 2019

Posted by Commodity Updates by Epic Research on 12:39:00 with No comments

Crudeoil trading range for the day is 3592-3946.

* Crude oil dropped after U.S. crude inventories rose and as production levels in the country held at record

* But OPEC-led supply cuts and Washington's sanctions against Venezuela supported markets.

* U.S. crude oil inventories climbed by 1.3 million barrels in the week that ended Feb. 1 to 447.21 million barrels, data from the EIA showed.

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