Crude Futures moving down at the time of reporting. Supply side fundamentals continue to weight on oil prices. Oil prices drifted lower after Washington deal with Caracus to imports crude worth of $2 billion was announced. Low volumes also keep check on oil prices. Surplus oil talk mounted worries across. On the technicals side, Investors lost interest in oil F&O. Hedgefunds and other money managers combined positions are low. EIA confirmed that U.S Crude stocks were drawn while product stocks up during last week, Signaled material demand and supply tightness signal.
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