EPIC RESEARCH MCX CRUDE OIL UPDATE OF 9 JULY 2018

Crude oil trading range for the day is 4927-5163. Crude oil gained supported by ongoing bets on a shortage in global crude supplies amid rising oil demand, the potential for a larger drop in Iranian crude exports. Expectations for a shortage in global crude supplies come against the backdrop of rising Russian and Saudi output. Iran's Oil Minister says President Trump is a 'hostage' of Russian and Saudi policies incapable of lowering oil prices.

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