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Wednesday, 12 September 2018

EPIC RESEARCH MCX Crudeoil UPDATE OF 12 September 2018

Crudeoil trading range for the day is 4833-5159.

* Crude oil rose after a report of falling crude inventories and the looming sanctions against Iran fueled expectations of a tightening market.

* The global oil market has recovered from an oversupply crisis thanks to a 2016 Vienna accord to curb output but remains "fragile" due to geopolitics.

* Russian Energy Minister Alexander Novak said that the OPEC+ oil group may sign a new long-term cooperation deal at the beginning of December.

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