Crude oil on MCX settled up 0.24% at 3359 after the U.S. launched cruise missiles at an airbase in Syria, sparking concerns of an escalation in the Syrian civil war. U.S. President Donald Trump said he ordered missile strikes against a Syrian airfield from which a deadly chemical weapons attack was launched. Crude prices had also strengthened this week amid increasing optimism that OPEC’s supply curbs are beginning to re balance the market.

Trading Ideas: 

 * Crude oil trading range for the day is 3280-3438. 

* Crude oil prices climbed after the U.S. launched cruise missiles at an airbase in Syria, sparking concerns of an escalation in the Syrian civil war. 

* Crude prices had also strengthened this week amid increasing optimism that OPEC’s supply curbs are beginning to re balance the market. 

* Shipped oil flows also remain higher than at any time during the second half of 2016, before the OPEC-led cuts were implemented.

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