MTECHTIPS:-Crude oil to trade in 3504-3604 range: Achievers Equities

MTECHTIPS:-Crude oil to trade in 3504-3604 range: Achievers Equities

MTECHTIPS-Crude oil trading range for the day is 3504-3604. Crude oil prices fell as surge in inventories seen while market continues to welcome an effort to trim global supplies. US crude oil inventories jumped 9.5 mbls last week taking the total to a record 518 mbls, the EIA said Wednesday. OPEC said output in January fell 890,000 bpd from December to 32.14 mb pd, putting the supply and demand balance globally. BUY CRUDE OIL FEB 2017 @ 3530 SL 3480 TGT 3575-3610. MCX.

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