EPIC RESEARCH MCX CRUDE OIL UPDATE OF 23 MAY 2018

Crude oil trading range for the day is 4877-5003. Crude oil dropped after prices seen supported as the prospect of global supply disruptions remained elevated amid looming sanctions on Iran and falling Venezuelan crude output. Venezuela's oil output has already dropped by a third in two years to its lowest level in decades. Concerns that looming U.S. sanctions on Iran will curb that country's crude exports also boosted prices.

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