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Last Updated : Jul 27, 2017 01:37 PM IST | Source: Moneycontrol.com

Crudeoil to trade in 3062-3188: Achiievers Equities

According to Achiievers Equities, Crude oil gained as investors cheered data showing supplies of U.S. crude fell by more- than-expected, lifting expectations that supplies will tighten.


Achiievers Equities' commodity report on Crudeoil


Crudeoil trading range for the day is 3062-3188.

Crude oil gained as investors cheered data showing supplies of U.S. crude fell by more- than-expected, lifting expectations that supplies will tighten.

Inventories of U.S. crude fell by roughly 7.2m barrels, confounding expectations of a draw of about only 2.6m barrels.

The market has been buoyed by Saudi Arabia's announcement that it would limit crude exports to 6.6 mbpd in August, down nearly 1 million bpd from a year earlier.

BUY CRUDEOIL AUG 2017 @ 3120 SL 3090 TGT 3156-3185.MCX.

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First Published on Jul 27, 2017 01:37 pm
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