EPIC RESEARCH MCX CRUDE OIL UPDATE OF 16 OCTOBER 2017

Crude oil trading range for the day is 3265-3381.Crude oil prices gained as both U.S. crude production and inventories declined, pointing towards a tightening market.The International Energy Agency said that global supply and demand for crude oil will be largely balanced next year.U.S. crude inventories dropped 2.7 million barrels in the week to Oct. 6, to 462.22 million barrels, the Energy Information Administration (EIA) said.


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