EPIC RESEARCH MCX CRUDE OIL UPDATE OF 17 AUGUST 2018

Crude Oil trading range for the day is 4448-4738. Crude oil dropped amid increasing concerns about slowing global economic growth that could hit demand for petroleum products. The oil market had felt the effects of a large build in U.S. inventories that added to concern over the outlook for fuel demand. U.S. data showed crude output C-OUT-T-EIA rose by 100,000 barrels per day (bpd) to 10.9 million bpd in the week ending Aug. 10.

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