EPIC RESEARCH MCX CRUDE OIL UPDATE OF 08 MARCH 2017

WTI oil prices declined by 0.1 percent on Tuesday to close $53.1 per barrel as growing U.S. production expectations offset earlier gains after Saudi Arabia's oil minister said market fundamentals were improving. The market, however, fell in post-settlement trade after data from industry group the American Petroleum Institute showed U.S. crude stocks last week rose 11.6 million barrels, or more than five times analysts' forecast. On the MCX, oil prices rose by 0.2 percent to close at Rs.3558 per barrel.

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