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Monday 11 March 2019

EPIC RESEARCH MCX Crudeoil UPDATE OF 11 March 2019

Crudeoil trading range for the day is 3752-4028.

* Crude oil dropped as U.S. crude output and exports chase new records, undermining efforts by producer club OPEC to tighten global markets.

* A slowdown in economic growth would also likely result in stalling fuel demand, putting pressure prices.

* Prices also took a hit after ECB President Mario Draghi said the economy was in "a period of continued weakness and pervasive uncertainty".

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