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Crude Oil Analysis | MCX Commodity Tips

by Zoid Research 10:13 PM 1 comments
U.S. crude has been firmer relative to Brent recently, on signs that the U.S. oil market is likely to grow tighter following Congress' decision to lift a 40-year old ban on domestic oil exports, while a global glut gets worse in 2016 due to soaring production in Saudi Arabia and Russia.

Oversupply issue will be exacerbated further once Iran returns to the global oil market early next year after western-imposed sanctions are lifted. Analysts say the country could quickly ramp up production by around 500,000 barrels, adding to the glut of oil that has sent prices tumbling.

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1 comment:

  1. Clara MellorJuly 31, 2017 at 1:07 AM

    Trend in FII flows: The FIIs were net buyers of Rs -223.12 the cash segment on Friday while the DIIs were net sellers of Rs 424.67 as per the provisional figures.capitalstars

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