Monday, 7 August 2017

EPIC RESEARCH MCX CRUDE OIL UPDATE OF 07 AUGUST 2017

Crudeoil trading range for the day is 3065-3207. Crude oil ended with gains capping off a volatile week which saw crude prices rise above $50 a barrel before pairing gains.Pressure also seen following a report saying that crude exports by OPEC rose to a record high in July, which posted a rise of 260,000 bpd in shipments. In the United States, oil production has hit 9.43 million bpd, the highest since August 2015 and up 12 percent from its most recent low in June last year.

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