Thursday, 5 January 2017

EPIC RESEARCH MCX CRUDE OIL UPDATE OF 5 JANUARY 2017


Crudeoil trading range for the day is 3531-3673. Crude oil gained on expectations U.S. crude inventories have dropped and on signs that the world's top oil exporters will stick to agreed output cuts that took effect this week. Also reflecting a tightening market, top oil exporter Saudi Arabia to raise the official selling price for its crude to Asia in February. Members of the OPEC in November agreed their first output cut since 2008 in an attempt to stabilise oil prices.

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