According to Achiievers Equities, Crude oil dropped on news that U.S. shale oil output was expected to post the biggest monthly rise in more than two years.
Achiievers Equities' commodity report on Crudeoil
Crudeoil trading range for the day is 3348-3438.
Crude oil dropped on news that U.S. shale oil output was expected to post the biggest monthly rise in more than two years.
The energy minister of OPEC member the United Arab Emirates said he saw healthy oil demand growth this year and believed inventories would fall.
Crude inventories fell by 840,000 barrels in the week to April 14 to 531.6 million barrels, still close to record highs, according to data from the API.SELL CRUDEOIL APR 2017 @ 3420 SL 3460 TGT 3385-3350.MCX
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