Tuesday, 24 October 2017

EPIC RESEARCH MCX CRUDE OIL UPDATE OF 24 OCTOBER 2017

Crudeoil trading range for the day is 3352-3424.Crude oil prices rose over supply concerns in the Middle East and as the U.S. market showed further signs of tightening while demand in Asia keeps rising. U.S. production was also recently impacted by a hurricane for the second time in as many months and the number of U.S. drilling rigs declined. The amount of U.S. oil rigs drilling for new production fell by seven to 736 in the week to Oct. 20, the lowest level since June.



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