EPIC AGRI COMMODITY UPDATE: CRUDE OIL

[epicresearch]

Crudeoil trading range for the day is 5718-5858.Crude oil dropped as expectations of more supply from the Middle East and North Africa outweighed news of a large drop in U.S. crude stockpiles.Huge volumes of crude from Iran and Libya have been blocked by political and civil disputes.Worries that the extra supply will tip the oil market into surplus are outweighing signs of accelerating global economic growth and increasing fuel demand.