Determine Today’s Crude Trading Range
Crude oil gained on expectations of a U.S. crude inventory draw, although trading activity was muted as markets start to wind down ahead of the Christmas.
OPEC’s vow to cut production lifted oil to its highest since mid-2015, but the rally stalled due a strong U.S. dollar.
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The American Petroleum Institute said that crude inventories in the U.S. fell by 4.15 million barrels at the end of last week.
Thus: Crude oil trading range for the day is 3564-3710.
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