EPIC RESEARCH MCX CRUDE OIL UPDATE OF 25 JANUARY 2018

Posted by aditi on 11:11:00 with No comments

Crudeoil trading range for the day is 4070-4196. Crude oil prices settled higher as data showing US domestic production fell for the tenth-straight week offset a rise in production to nearly 10 million barrels a day. Inventories of U.S. crude fell by roughly 1.071 million barrels for the week ended Jan. 19, beating expectations for of a draw of one million barrels. The American Petroleum Institute said that crude inventories rose by 4.8 million barrels in the week to Jan. 19 to 416.2 million, after nine weeks of drawdowns.

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