EPIC RESEARCH MCX CRUDE OIL UPDATE OF 11 MAY 2018

Crude oil trading range for the day is 4682-4880. Crude oil dipped away from multi-year highs reached the previous session on hopes that alternative supplies could replace a looming drop in Iranian exports. The United States plans to impose new sanctions against Iran, which produces around 4 percent of global oil supplies. The threat of new sanctions come amid an oil market that has already been tightening due to strong demand, especially in Asia.

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