EPIC RESEARCH MCX CRUDE OIL UPDATE OF 2 JANUARY 2017

Crudeoil trading range for the day is 3613-3699. Crude oil dropped on last trading session of the year but gained on yearly basis on the back of an agreement struck between OPEC and non-OPEC countries. The market also shrugged off an unexpected increase in U.S. crude inventories, which rose 614,000 barrels. Traders are expected a balance to return to the market by the middle of 2017, however, as OPEC's production cuts take full effect.


For MCX TIPS ✆ – 0731-6642300

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