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Crude oil futures slip on subdued global cues

On the Multi Commodity Exchange (MCX), crude oil for November delivery dropped by Rs 24, or 0.6 percent, to Rs 3,996 per barrel with a business volume of 18,867 lots.

October 28, 2019 / 06:03 PM IST

Crude oil futures fell by Rs 24 to Rs 3,996 per barrel on Monday after participants reduced positions, tracking a subdued trend in global markets.

On the Multi Commodity Exchange (MCX), crude oil for November delivery dropped by Rs 24, or 0.6 percent, to Rs 3,996 per barrel with a business volume of 18,867 lots.

Similarly, crude oil for December delivery was quoting lower by Rs 24, or 0.6 percent, to Rs 4,008 per barrel with an open interest of 740 lots.

The fall in crude oil futures was mostly due to trimming of positions by traders in line with weak global cues, analysts said.

Trading on the MCX was closed till 1700 hrs on Monday on account of 'Diwali Balipratipada'.

Close
Globally, West Texas Intermediate crude oil was trading 0.26 percent lower at 56.51 USD per barrel, while international benchmark Brent Crude traded 0.32 percent down at USD 61.82 per barrel in New York.
PTI
first published: Oct 28, 2019 05:55 pm

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