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Friday 5 October 2018

EPIC RESEARCH MCX Crudeoil UPDATE OF 05 October 2018

Crudeoil trading range for the day is 5353-5711.

* Crude oil dropped pressured by rising U.S. inventories and after sources said Russia and Saudi Arabia struck a private deal in September to raise crude output.

* U.S. crude inventories surged by around 8 million barrels last week to about 404 million, marking the largest rise since March 2017.

* U.S. weekly Midwest refinery utilization rates dropped to 78.9 percent, their lowest since October 2015, according to the data.

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