Friday, 14 July 2017

EPIC RESEARCH MCX CRUDE OIL UPDATE OF 14 JULY 2017

Crudeoil trading range for the day is 2869-3033. Crude oil prices rebounded from the day's low shaking off downbeat forecast from energy watchdog. IEA said the oil market could stay oversupplied for longer than expected due to rising production and limited output cuts by some OPEC exporters. Support seen after the evidence of stronger demand in China balanced reports of higher production by OPEC exporters in a downbeat report by IEA.

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