EPIC RESEARCH MCX CRUDE OIL UPDATE OF 9 AUGUST 2018

Crude oil trading range for the day is 4420-4842. Crude oil prices dropped after data showed U.S. crude stockpiles fell less than expected and U.S.-China trade tensions intensified. Crude inventories fell by 1.4 million barrels in the last week, compared with expectations for a decrease of 3.3 million barrels. China’s July crude oil imports recovered slightly in July after falling for the previous two months.

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