Crudeoil to trade in 3274-3448 range: Achiievers Equities
According to Achiievers Equities,Crude oil dropped as abundant crude supplies outweighed tighter U.S. fuel inventories and OPEC's plans to cut output.
Crudeoil trading range for the day is 3274-3448.
Crude oil dropped as abundant crude supplies outweighed tighter U.S. fuel inventories and OPEC's plans to cut output.
OPEC reported that its oil production rose in September to its highest level in eight years and pointed to a larger surplus next year.
U.S. crude's structure gained support from the extended outage of a pipeline capable of delivering 450,000 barrels per day of crude into Cushing.
SELL CRUDE OIL OCT @ 3360 SL 3400 TGT 3320-3180.MCX.
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