EPIC RESEARCH MCX CRUDEOIL UPDATE OF 09 July 2018

Crudeoil trading range for the day is 4927-5163.

Crude oil gained supported by ongoing bets on a shortage in global crude supplies amid rising oil demand, the potential for a larger drop in Iranian crude exports.

Expectations for a shortage in global crude supplies come against the backdrop of rising Russian and Saudi output.

Iran's Oil Minister says President Trump is a 'hostage' of Russian and Saudi policies incapable of lowering oil prices.

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