EPIC RESEARCH MCX Crudeoil UPDATE OF 21 August 2018

Crudeoil trading range for the day is 4523-4629.

Crude oil steadied as expected falls in supply over Iran sanctions outweighed concerns over the global economy.

In the United States, U.S. energy companies last week kept the oil rig count unchanged at 869, according to the Baker Hughes.

Outside the United States, traders said U.S. sanctions against Iran could soon impact prices.

Iran produced around 3.65 million barrels per day of crude in July, making it the third biggest producer within the OPEC, behind Saudi Arabia and Iraq.

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