EPIC AGRI COMMODITY UPDATE: CRUDE OIL

[epicresearch]

Crudeoil trading range for the day is 6326-6534.Crude oil dropped as tensions over Iran eased and a potential U.S. government shutdown clouded the outlook for demand.Exports from Iran have more than halved in recent years to around 1 million barrels per day in 2012 due to tightening sanctions.Supplies concerns have also eased in recent weeks as exports from Libya recovered to above 580,000 barrels per day.