EPIC RESEARCH MCX Crudeoil UPDATE OF 25 September 2018

Posted by Commodity Updates by Epic Research on 11:41:00 with No comments

Crudeoil trading range for the day is 5086-5400.

* Crude oil rallied after Saudi Arabia and Russia ruled out any immediate increase in production despite calls by U.S. President Donald Trump for action to raise global supply.

* Amid a tightening market, U.S. commercial crude oil inventories are at their lowest level since early 2015.

* OPEC as well as top producer Russia are discussing raising output to counter falling supply from Iran, although no decision has been made public yet.

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