EPIC RESEARCH MCX CRUDE OIL UPDATE OF 11 JULY 2016

Posted by Farhan Khan on 13:10:00 with No comments
Crudeoil trading range for the day is 2975-3139.              
Crude prices settled flat, bouncing back from two-month lows hit on Nigeria attacks, but upside seen limited as economic worries weighed on oil.              
However, an ongoing glut in refined products, especially in Asia and North America, as well as slowing economic growth weighed on oil.              
U.S. crude oil production has fallen by 12.3 percent since their 2015 peaks and by 8.74 percent since January this year to 8.43 mbpd.


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