EPIC RESEARCH MCX Crudeoil UPDATE OF 17 September 2018

Crudeoil trading range for the day is 4817-5091.

* Crude oil gained after comments from U.S. officials surrounding their plans to impose sanctions on Iranian oil renewed concerns over tighter global crude supplies.

* Oil prices also continued to enjoy a boost from expectations for tighter global supplies amid signs of falling demand for Iranian crude ahead of U.S. sanctions.

* Oilfield services firm Baker Hughes reported that the number of U.S. oil drilling rigs in operation rose by 7 to 867 this week.


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