EPIC AGRI COMMMODITY UPDATE:CRUDE OIL

[epicresearch]

Crudeoil trading range for the day is 6198-6434. Crude oil dropped after U.S. retail sales missed expectations in June, fuelling fears that the economic recovery is losing momentum. China's implied oil demand in June rose to the highest daily level since February as refineries returned from maintenance. Improved U.S. retail sales data on Monday could hasten moves by the Fed to unwind it stimulus programme.