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Wednesday, 17 October 2018

EPIC RESEARCH MCX Crudeoil UPDATE OF 17 October 2018

Crudeoil trading range for the day is 5167-5375.

* Crude oil gains on evidence of falling Iranian exports, but gains were limited by fears of another outsize U.S. crude build in weekly storage data.

* OPEC Secretary-General Mohammad Barkindo said global spare oil capacity was shrinking, adding that producers and companies should increase their production capacities.

* U.S. crude stockpiles were forecast to have risen last week for the fourth straight week, by about 1.1 million barrels.

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