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Crude oil prices slipped by 0.78 per cent to Rs 4,732 a barrel in futures trade today as speculators off-loaded their holding on the back of weak global trend.
At the Multi Commodity Exchange, crude oil for delivery in March shed Rs 37 or 0.78 per cent to Rs 4,732 a barrel, with a business volume of 94 lots.
Similarly, the oil for delivery in April fell by Rs 35 or 0.72 per cent to Rs 4,817 a barrel, with an open interest of seven lots.
Market analysts attributed the fall to a weak overseas trend, where the oil slipped for the first time in three days as speculation that fighting may subside in Libya eased concern that supply cuts will spread through West Asia.
Meanwhile, crude for delivery in April shed 97 cents to $104.47 a barrel in electronic trading on the New York Mercantile Exchange.
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