Monday, 21 November 2016

DOLLAR ADVISORY MCX CRUDE OIL UPDATE OF 21 Nov 2016

Crude oil trading range for the day is 3066-3210. Crude oil dropped amid strong dollar but gains on weekly basis buoyed by growing expectations that OPEC will find a way to cap production. OPEC is moving closer to finalizing its first deal since 2008 to limit output, with most members prepared to offer Iran flexibility on production volumes. Iran has been the main stumbling block for capping production.
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