EPIC RESEARCH MCX CRUDE OIL UPDATE OF 12 OCTOBER 2017

Crudeoil trading range for the day is 3281-3393. Crude oil prices gained on signs that markets are gradually tightening after years of oversupply, although the outlook for 2018 remained less certain.U.S. crude stocks rose by 3.1 million barrels to 468.5 million barrels last week, according to industry group the American Petroleum Institute.A pact between the OPEC and other producers including Russia to cut output by 1.8 mbpd in order to prop up prices is due to expire by the end of March 2018.






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