Comments
Crude oil futures plunged Rs 29 to Rs 4,213 per barrel as speculators reduced their bets owing to a weak global trend.
At the Multi Commodity Exchange, crude for delivery in far month May dropped Rs 29 or 0.68 per cent to Rs 4,213 per barrel in 220 lots. On similar lines, oil for delivery in April moved down by Rs 27 or 0.64 per cent to Rs 4,205 per barrel in 5,399 lots.
Marketmen said trading sentiment was dampened as Brent dropped below $70 per barrel and US West Texas Intermediate crude dipped below $65 owing to a report of increasing US crude inventories.
Meanwhile, West Texas Intermediate (WTI) crude fell 39 cents, or 0.6 per cent, to $64.86, while Brent crude fell 36 cents, or 0.5 per cent, to $69.75 per barrel on the New York Mercantile Exchange.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.