Crude Oil Gained As Data Eased Concerns About Surplus Supplies

Crude oil trading range for the day is 3123-3235.

Crude oil gained as data eased concerns about surplus supplies, after Saudi Arabia pledged to lower exports while U.S. crude supplies fell more than expected.

Saudi Arabia, OPEC's de facto leader, said it planned to cap crude exports to 6.6 million bpd in August, about 1 million bpd below the level last year.

EIA reported, crude and gasoline stockpiles fell by more than expected last week, pointing to an uptick in demand for crude and refinery activity.

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