MCX Crude Oil

Posted by Naresh Tomar on Thursday, August 11, 2011

Crude oil futures registered strong gains, supported by the drawdown in US oil inventories. As per EIA release, Crude stocks fell 5.23mn barrels to 349.75mn barrels, as compared with the expectations of a 1.5mn barrel build. Gasoline stocks dropped 1.59mn barrels to 213.59mn barrels, compared with analyst projections for a 500,000 barrel build.

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