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Crude oil prices fell by 1.39 per cent to Rs 4,403 per barrel at the futures trade today, extending its slide, despite partial recovery in the Asian trade.
At the Multi Commodity Exchange, crude oil for delivery in March shed Rs 62 or 1.39 per cent to Rs 4,403 per barrel with a business turnover of 7,713 lots.
Likewise, the oil for delivery in April also fell by Rs 62 or 1.37 per cent to Rs 4,470 per barrel with a business volume of 1,225 lots.
Analysts attributed the fall in crude oil futures prices to offloading of positions by speculators. However, partial recovery in the Asian trade capped the losses.
Meanwhile, crude oil for delivery in April rose 86 cents to $98.04 a barrel in the electronic trading on the New York Mercantile Exchange, on bargain-hunting following the previous day’s massive sell-off.
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