EPIC RESEARCH MCX Crudeoil UPDATE OF 17 August 2018

Crudeoil trading range for the day is 4448-4738.

* Crude oil dropped amid increasing concerns about slowing global economic growth that could hit demand for petroleum products.

* The oil market had felt the effects of a large build in U.S. inventories that added to concern over the outlook for fuel demand.

* U.S. data showed crude output C-OUT-T-EIA rose by 100,000 barrels per day (bpd) to 10.9 million bpd in the week ending Aug. 10.


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