EPIC RESEARCH MCX CRUDE OIL UPDATE OF 17 MARCH 2017

Crudeoil trading range for the day is 3130-3276.Crude gained as support seen after the remarks by the Saudi energy minister in focus as well as weekly rig count data.Saudi Arabia’s energy minister, who said output cuts led by the OPEC may be extended if necessary, according to BloombergCrude inventories at 528.2mbls are 7.3% higher than year-ago levels, and the storage hub at Cushing, Oklahoma.

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