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Last Updated : Aug 09, 2018 12:18 PM IST | Source: CNBC

Crude oil to trade in 3534-3662 range: Achiievers Equities

According to Achiievers Equities, Crude oil dropped as ample U.S. supplies and excess speculative length outweighed OPEC output curbs and rising tensions between US and Iran.

Mohit Goel
Achiievers Equities' report on Crude oil

Crude oil trading range for the day is 3534-3662.  

Crude oil dropped as ample U.S. supplies and excess speculative length outweighed OPEC output curbs and rising tensions between US and Iran.  

Beyond rising drilling activity, there are also concerns that U.S. gasoline consumption, a key pillar for crude oil demand, is stalling.  

BMI Research said that around 6 percent of Chinese refining capacity would shut down at some point during the first half of the year.  

SELL CRUDEOIL FEB 2017 @ 3600 SL 3640 TGT 3565-3525.MCX. 

For all commodities report, click here

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First Published on Feb 7, 2017 01:40 pm
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