Crude Update

Oil is heading lower after rise in US gasoline stocks. Increasing US production is keeping a lid on oil prices. Lot of supply cut both by OPEC as well as taking off supplies of Iran, Venezuela etc from the markets have not been able to perk up crude oil prices. Imagine what would happen if the supply from many of these countries come back. Everybody is now afraid of battery driven cars replacing part of the liquid fuel driven autos. So, crude oil prices may remain a bit subdued.

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