Moneycontrol
Oct 17, 2016 03:25 PM IST IST | Source: Moneycontrol.com

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.

Achiievers Equities report on Crudeoil

Crudeoil

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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