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Monday, 8 October 2018

EPIC RESEARCH MCX Crudeoil UPDATE OF 08 October 2018

Crudeoil trading range for the day is 5413-5657.

* Crude oil gains amid concern that Saudi Arabia and Russia may not pump enough crude to prevent a supply crunch as Iranian cargoes disappear from world markets.

* Saudi Arabia and Russia said they would raise output to at least partly make up for expected disruptions from Iran.

* U.S. sanctions will start targeting Iran's crude exports from November 4, and Washington is putting pressure on governments and companies globally to fall in line.

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