EPIC RESEARCH MCX CRUDE OIL UPDATE OF 4 MAY 2018

Crude oil trading range for the day is 4461-4633. Crude oil prices gained after Iran said it would not renegotiate the Iran nuclear deal, accusing the U.S. of “bullying,” stoking expectations for new U.S. sanctions on Tehran. U.S. oil production also rose to a record of 10.62 million barrels per day (bpd), a jump of more than a quarter since mid-2016. U.S. drillers added five oil rigs looking for new production, bringing the total count to 825, the most since March 2015.

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