EPIC RESEARCH MCX Crudeoil UPDATE OF 12 April 2019

Posted by Commodity Updates by Epic Research on 13:00:00 with No comments

Crudeoil trading range for the day is 4324-4496.

Crude oil dropped after U.S. crude stockpiles surged to their highest levels in almost 17 months amid record production.

U.S. crude inventories rose 7 million barrels to 456.6 million barrels in the last week, their highest since November 2017.

U.S. crude oil production remained at a record 12.2 mbpd, making the United States the world’s biggest oil producer ahead of Russia and Saudi Arabia.

Venezuela’s oil output sank to a new long-term low last month due to U.S. sanctions and blackouts, with production plunging to 960,000 bpd in March.

Subscribe now for best Stock Report
US Stock Market News
For quick free trial click here > +917316642316

Connect with our social media sites