EPIC RESEARCH MCX Crudeoil UPDATE OF 17 October 2018
Posted by Commodity Updates by Epic Research on 11:53:00 with No comments
Crudeoil trading range for the day is 5167-5375.
* Crude oil gains on evidence of falling Iranian exports, but gains were limited by fears of another outsize U.S. crude build in weekly storage data.
* OPEC Secretary-General Mohammad Barkindo said global spare oil capacity was shrinking, adding that producers and companies should increase their production capacities.
* U.S. crude stockpiles were forecast to have risen last week for the fourth straight week, by about 1.1 million barrels.
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