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Monday, 1 October 2018

EPIC RESEARCH MCX Crudeoil UPDATE OF 01 October 2018

Crudeoil trading range for the day is 5169-5439.

* Crude oil gained as U.S. sanctions on Tehran squeezed Iranian crude exports, tightening supply even as other key exporters increased production.

* Concerns around the sanctions also led to a widening difference between WTI and Brent prices as it created positive conditions for U.S. oil exports.

* Saudi Arabia is expected to quietly add extra oil to the market over the next couple of months to offset the drop in Iranian production.

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