EPIC RESEARCH MCX Crudeoil UPDATE OF 03 October 2018

Posted by Commodity Updates by Epic Research on 12:25:00 with No comments

Crudeoil trading range for the day is 5259-5633.

* Crude oil prices rose ahead of U.S. sanctions against Iran, that kick in next month.

* Prices were supported by a report of a stagnant rig count in the United States, which points to a slowdown in U.S. crude production.

* OPEC delivered only a limited increase in oil production in September, as a cut in Iranian shipments due to U.S. sanctions offset higher output

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