EPIC RESEARCH MCX CRUDE OIL UPDATE OF 18 SEPTEMBER 2017

Crudeoil trading range for the day is 3144-3238. Crude oil prices dropped on profit booking but prices gained on weekly basis as expectations for higher demand and news of a decline in global supplies. Prices were supported as the clean-up after two major hurricanes in the U.S. gathered pace, boosting the outlook for demand. IEA said global oil supplies fell for the first time in four months in August, while also revising its 2017 oil demand estimate up to 1.6 million barrels a day.




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