ZOID RESEARCH 2-JUNE-2014 : CRUDE OIL

trading range underpinned by supply worries and strong gasoline demand in the United States, the world's top oil consumer. Russia has warned that it will cut natural gas supplies to Ukraine in June over Kiev's gas debt, raising the possibility of deliveries to Europe being affected. Oil supply from Libya, a source of high quality, light crude, remained near a tenth of capacity with protests and violence disrupting output. U.S. consumer spending fell for the first time in a year in April but the decline, which followed two months of solid gains, did not change expectations for a sharp rebound in economic growth this quarter. 

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