EPIC RESEARCH MCX CRUDE OIL UPDATE OF 09 JUNE 2017

Crudeoil trading range for the day is 2878-3010. Crude oil prices dropped as evidence mounted that a fuel supply overhang continued despite an ongoing effort led by OPEC. Concerns of rising global output, following the return of Nigerian crude to the market and an unexpected surge in US crude stockpiles. Libya's 270,000 bpd Sharara oil field has reopened after a workers' protest and should return to normal production within three days.

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