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Wednesday 10 October 2018

EPIC RESEARCH MCX Crudeoil UPDATE OF 10 October 2018

Crudeoil trading range for the day is 5445-5659.

* Crude oil gained as more evidence emerged that crude exports from Iran, are declining in the run-up to the re-imposition of U.S. sanctions.

* Iran’s crude exports fell further in the first week of October, as buyers are seeking alternatives ahead of the start of the U.S. sanctions on Nov. 4.

* Iran’s Oil Minister Bijan Zanganeh called a Saudi claim that the kingdom could replace Iran’s crude exports “nonsense.”

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