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Crude oil futures prices slid 0.51 per cent to Rs 5,291 per barrel today, after speculators booked profits amid a weakening trend in Asia.
At the Multi Commodity Exchange, prices for January contract fell Rs 27 or 0.51 per cent to Rs 5,318 per barrel with a trading volume of 10,485 lots. February contract prices also fell by a similar margin to Rs 5,315 per barrel in a turnover of 1,211 lots.
Analysts said the fall in crude oil futures was mostly in line with a weakening trend in Asian trade as traders took profits from recent gains and weak US energy demand, which dampened the sentiment despite concerns over tension in Iran and Nigeria.
Meanwhile, the New York’s main contract crude for February delivery was down 54 cents at $101.70 a barrel in the morning trade in the Asian region today.
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