EPIC RESEARCH MCX CRUDE OIL UPDATE OF 21 FEBRUARY 2018

Crudeoil trading range for the day is 3973-4091. Crude oil recovered from lows as investors cheered upbeat commentary on oil market rebalancing while data showing Cushing inventories declined.However, downside seen limited as reduced supply from Canada to the United States caused by pipeline reductions. Overall, oil markets remain supported by supply restraint on the part of the OPEC, which started last year to draw down excess global inventories.



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