Commodities

Crude oil futures slip to Rs 4,122 on weak global cues

| | Updated on: Dec 05, 2014
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Crude oil futures declined by 0.34 per cent to Rs 4,122 per barrel today in line with a weak trend in Asian trade.

At the Multi Commodity Exchange, crude oil for delivery in current month shed Rs 14, or 0.34 per cent, to Rs 4,122 per barrel, with a business volume of 1,189 lots.

The oil prices for January 2015 contract moved down by Rs 13, or 0.31 per cent, to Rs 4,156 per barrel, with a business volume of 79 lots.

Marketmen said the fall in crude oil futures was mostly in tandem with a weak trend in Asian trade.

This was after major producer Saudi Arabia slashed the prices of crude oil that it sells to Asia and the United States.

Meanwhile, West Texas Intermediate crude oil for delivery in January was down by 31 cents to $66.50 a barrel, while Brent for January dropped 38 cents to $69.26 a barrel in late-morning trade on the New York Mercantile Exchange.

Published on March 12, 2018

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