Monday, 2 April 2018

Crude Oil Gained As The Prospect Of An Extension To OPEC-Led Production Cuts

Crude oil trading range for the day is 4151-4287.

Crude oil gained as the prospect of an extension to OPEC-led production cuts into next year provided support.

U.S. crude inventories rose by 1.6 million barrels in the last week to 429.95 million barrels, the Energy Information Administration said.

Sources at OPEC said the group and its allies were likely to keep their deal on cutting output for the rest of 2018 when they meet in June.

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