EPIC RESEARCH MCX Crudeoil UPDATE OF 27 December 2018

Posted by Commodity Updates by Epic Research on 12:18:00 with No comments

Crudeoil trading range for the day is 2899-3403.

Crude oil surged posting its strongest daily gain in more than two years in a partial rebound from steep losses that pushed crude benchmarks to lows not seen since 2017.

OPEC Prepared To Call ‘Extraordinary Meeting’ As Oil Falls

UAE’s Suhail al-Mazrouei said it would not be a problem for the cartel to extend the period of the cuts, initially set at four months, beginning in January.

Hedge funds and other money managers cut their bullish wagers on U.S. crude futures and options in the latest week as crude futures plunged lower.

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