EPIC RESEARCH MCX CRUDE OIL UPDATE OF 17 OCTOBER 2017

Crude oil trading range for the day is 3295-3423.Crude oil prices gained on concerns over potential renewed U.S. sanctions against Iran as well as conflict in Iraq.Prices were further supported by drillers cutting back the number of rigs looking for new production.There were also concerns about the stability of Iraq, the second biggest oil producer within the Organization of the Petroleum Exporting Countries behind Saudi Arabia.






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