Crude oil futures slip 0.77 per cent on weak global cues
New Delhi: Crude oil futures fell 0.77 per cent to Rs 4,145 per barrel today after participants reduced exposure in tune with a weak trend in Asian markets.
At the Multi Commodity Exchange, crude oil for delivery in March shed Rs 32, or 0.77 per cent, to Rs 4,145 per barrel, with a business volume of 160 lots.
Oil prices for February delivery also moved down by Rs 30, or 0.72 per cent, to trade at Rs 4,156 per barrel with a business volume of 3,378 lots.
Marketmen said the fall in crude oil futures was mostly due to trimming of positions by traders in tandem with a weakening trend in Asian trade, where it extended declines since the end of last week amid a wider market sell-off and a stronger dollar.
Meanwhile, West Texas Intermediate crude oil was down by 68 cents, to USD 64.77. Brent, used to price international oils, fell 73 cents, to trade at nearly a month low of USD 67.85 a barrel.
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