DOLLAR ADVISORY MCX CRUDE OIL UPDATE OF 18 Nov 2016 - Dollar Advisory & Financial Services

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Friday 18 November 2016

DOLLAR ADVISORY MCX CRUDE OIL UPDATE OF 18 Nov 2016

Crude oil trading range for the day is 3034-3198. Crude oil gained as expectations of an OPEC deal to limit production outweighed evidence of global oversupply and rising inventories. Saudi Energy Minister Khalid al-Falih said he was optimistic OPEC would formalize a preliminary oil output deal reached in Algeria in September. OPEC countries are ready to reach a "forceful" agreement on cutting oil output, Venezuelan President Nicolas Maduro said.
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