EPIC RESEARCH MCX CRUDEOIL UPDATE OF 18 July 2018

Posted by Commodity Updates by Epic Research on 13:23:00 with No comments

Crudeoil trading range for the day is 4548-4742.

* Crude oil prices settled higher recovering from lows as traders turned attention to U.S. data that is expected to show another draw in stockpiles.

* The spectre of oversupply returned, with a rise of more than 600,000 barrels in U.S. crude stockpiles, reported by the American Petroleum Institute.

* While Libyan ports are reopening, output at the country's Sharara oilfield was expected to fall by at least 160,000 barrels per day (bpd).

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