Crudeoil trading range for the day is 4045-4157. Crude Oil gained supported by ongoing output cuts led by OPEC and Russia despite a rise in U.S. and Canadian drilling activity that points to higher future output in North America. Oil markets have been well supported by production cuts led by the OPEC and Russia which are aimed at propping up crude prices. Attracted by tighter supplies and strong consumption, financial investors have raised their net long U.S. crude futures positions, to a new record, the CFTC said.
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