EPIC RESEARCH MCX CRUDE OIL UPDATE OF 30 JULY 2018

Crude oil trading range for the day is 4634-4836. Crude oil gained after Saudi Arabia suspended its oil shipments through a key Red Sea strait in response to an attack on two of its tankers. Saudi Arabia, said that it was "temporarily halting" all oil shipments through the strategic Red Sea shipping lane of Bab al-Mandeb. Kuwait Oil Official says Kuwait are studying whether to halt oil exports through Bab El-Mandeb Strait, however no decision has been taken yet.

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