MTECHTIPS;-Crude oil to trade in 3520-3672 range: Achievers Equities

MTECHTIPS;-Crude oil to trade in 3520-3672 range: Achievers Equities

MTECHTIPS-Crude oil trading range for the day is 3520-3672. Crude oil dropped as news of another weekly increase in U.S. drilling activity spread concern over rising output. IEA does not expect oil demand to peak any time soon due to rising consumption in developing economies, Director Fatih Birol said. U.S. oil production has been rising, with the International Energy Agency forecasting total U.S. output growth of 320,000 bpd in 2017. BUY CRUDE OIL FEB 2017 @ 3560 SL 3520 TGT 3618-3660. MCX.

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