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Crude oil futures declined by Rs 30 to Rs 3,581 per barrel today in line with a weak trend in Asian trade.
On the Multi Commodity Exchange, crude oil for delivery in May shed Rs 30 or 0.83 per cent to Rs 3,581 per barrel with a business volume of 2,136 lots.
Similarly, the oil for June delivery moved down by Rs 29 or 0.8 per cent to trade at Rs 3,704 per barrel with a business volume of 175 lots.
Marketmen said the fall in crude oil futures was mostly in tandem with a weak trend in Asian trade after a senior Saudi official signalled that the world’s top crude exporter has no intention of cutting production despite a global supply glut.
Meanwhile, West Texas Intermediate crude oil fell 76 cents to $56.23, while Brent eased 66 cents to $64.17 a barrel in mid-morning trade on the New York Mercantile Exchange.
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