EPIC RESEARCH MCX CRUDE OIL UPDATE OF 06 JUNE 2017

Crudeoil trading range for the day is 2967-3161.Crude oil dropped hit by concerns that a political rift between Qatar and several Arab states would undermine an OPEC-led push to tighten the market.Market participants are sensitive to Middle East tensions because they worry about supply disruptions from the region. Data from energy services company Baker Hughes showed that U.S. drillers last week added rigs for the 20th week in a row, the longest such streak on record.




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