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Crude Oil Market Updates for 22 Feb 2017

Crude Oil Market Updates for 22 Feb 2017

Crude oil trading range for the day is 3595-3731. Crude oil gained after OPEC said it was sticking to its agreement to cut production and hoped compliance with the deal would be even higher. The oil market will have to wait until Thursday, a day later than normal, for the release of this week’s official data, due to the holiday on Monday. U.S. crude oil and gasoline inventories soared to record highs last week as refineries cut output and gasoline demand softened, the EIA said.

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