EPIC RESEARCH MCX Crudeoil UPDATE OF 20 December 2018

Crudeoil trading range for the day is 3213-3503.

* Crude oil prices recovered somewhat from a sharp selloff, after U.S. data showed strong demand for refined products.

* Crude inventories fell by 497,000 barrels in the week to Dec. 14, smaller than the decrease of 2.4 million barrels.

* Further adding to the oversupply concerns, API said U.S. crude stocks rose unexpectedly last week, while gasoline inventories increased.

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