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Crude oil futures prices fell by Rs 24 to Rs 4,800 per barrel today as speculators reduced their holdings on the back of a weakening global trend.
At the Multi Commodity Exchange, crude oil for delivery in May fell by Rs 24 or 0.5 per cent to Rs 4,800 per barrel with a business turnover of 17 lots. Likewise, the oil for delivery in April declined by Rs 22 or 0.46 per cent to Rs 4,748 per barrel with a business volume of 37 lots.
Market analysts said fresh selling by speculators in line with a weakening trend in the overseas markets mainly led to a fall in crude oil futures prices.
Meanwhile, crude oil for May delivery declined 64 cents to $105.11 a barrel in New York.
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