Crudeoil trading range for the day is 5868-6178.
Crude prices dropped after data revealed U.S. stockpiles shot up last week, stoking concerns the U.S. economy remains awash in crude oil.
The U.S. Energy Information Administration said in its weekly report earlier that U.S. crude oil inventories rose by 6.2 million barrels.
Prices came under additional pressure on reports that the U.S. plans to release up to 5 mln barrels of oil from its Strategic Petroleum Reserves
The U.S. Energy Information Administration cut its 2014 world oil demand growth forecast by 40,000 barrels per day to 1.22 million bpd.
For more details contact : 0731-3299704 or Visit: http://capitalstroke.com/
Crude prices dropped after data revealed U.S. stockpiles shot up last week, stoking concerns the U.S. economy remains awash in crude oil.
The U.S. Energy Information Administration said in its weekly report earlier that U.S. crude oil inventories rose by 6.2 million barrels.
Prices came under additional pressure on reports that the U.S. plans to release up to 5 mln barrels of oil from its Strategic Petroleum Reserves
The U.S. Energy Information Administration cut its 2014 world oil demand growth forecast by 40,000 barrels per day to 1.22 million bpd.
For more details contact : 0731-3299704 or Visit: http://capitalstroke.com/
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