EPIC RESEARCH MCX CRUDE OIL UPDATE OF 20 FEBRUARY 2018

Crudeoil trading range for the day is 3974-4080. Crude oil prices continued to supported by tensions in the Middle East and global supply cut efforts. UAE energy minister said that oil producers led by Saudi and Russia aim to draft an agreement on a long-term alliance to cut output by the end of this year. Baker Hughes unit reported on Friday that the U.S. oil rig count rose by 7 to 798 last week, its highest since April 2015.
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