Crude oil trading range for the day is 2843-3115. Crude oil prices dropped after Russia ruled out any proposals to deepen the OPEC-led production cuts. Russia wants to continue with the current deal and any further supply curbs would send the wrong message to the market, according to government officials. Oil exports by the OPEC rose for a second month in June, despite its pledge to hold back production between January this year and March 2018 in order to prop up prices.

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