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Tuesday, 16 October 2018

EPIC RESEARCH MCX Crudeoil UPDATE OF 16 October 2018

Crudeoil trading range for the day is 5178-5382.

* Crude oil rose as geopolitical tensions over the disappearance of a prominent Saudi journalist stoked worries about supply, although concerns about the long-term outlook for demand dragged on prices.

* Crude markets were also supported in the wake of data that showed South Korea did not import any oil from Iran in September for the first time in six years.

* Saudi Arabia has been under pressure since Jamal Khashoggi, disappeared on Oct. 2 after visiting the Saudi consulate in Istanbul.

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