CAPITAL STROKE COMMODITY UPDATE 19-AUG-2014 :: MCX CRUDE OIL

CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-5820 R1-5750 S1-5680 S2-5600.  Crude oil pared its earlier gains as investor concerns over conflict in Ukraine and Iraq eased, and as higher Libyan oil output added to already ample supplies. Libya's production, disrupted for months by strikes and protests, had risen to 535,000 barrels a day (bpd). Adding to easing tensions and rising output in Libya, prices has been weighed by low demand from refineries in Europe and Asia.


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