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Crudeoil trading range for the day is 5899-6105.Crude oil dropped on profit booking despite expectations dwindled of an imminent breakthrough in talks over Iran's nuclear programme.Sanctions on Iran have kept around 1 million bpd of oil from the global market and any deal could allow some of that oil to be soldThe CME Group has lowered the initial margin for crude oil for the second time in a month.<a href="http://www.epicresearch.co/equity">Equity market tips</a>