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Crude oil softened by 0.26 per cent to Rs 3,504 per barrel at the futures trade today as speculators trimmed their positions to book profits amid weak global cues.
At the Multi Commodity Exchange, crude oil for delivery in November declined by Rs 9 or 0.26 per cent to Rs 3,504 per barrel in a business turnover of 2,267 lots. On similar lines, crude for delivery in December shed Rs 6 or 0.17 per cent to Rs 3,529 per barrel in 77 lots.
Analysts said the trading sentiment turned weak due to profit-booking by participants owing to weak global cues.
Globally, the US benchmark West Texas Intermediate for delivery was down 13 cents or 0.24 per cent at $54.02 and Brent crude fell 16 cents or 0.26 per cent to $60.74 a barrel.
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