EPIC RESEARCH MCX Crudeoil UPDATE OF 03 September 2018

Posted by Commodity Updates by Epic Research on 12:58:00 with No comments

Crudeoil trading range for the day is 4907-5035.

* Crude oil prices settled lower on signs of expanding U.S. output and fears over lower oil-demand growth amid rising global trade tensions.

* Maintenance season tends to halt refinery activity, slowing demand for crude stockpiles used as inputs in the production of product inventories.

* Oilfield services firm Baker Hughes reported that the number of U.S. oil drilling rigs in operation rose by 2 to 862.

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