NEW DELHI, Nov 18: Crude oil futures eased by 0.09 per cent to Rs 4,684 per barrel today after speculators trimmed positions in tandem with a weak trend in Asian trade.
At the Multi Commodity Exchange, crude oil for delivery in December shed Rs 4, or 0.09 per cent, to Rs 4,684 per barrel, with a business volume of 736 lots.
Oil prices for November delivery also moved down by Rs 2, or 0.04 per cent, to Rs 4,654 per barrel, with a business volume of 2,622 lots.
Marketmen said the fall in crude oil futures prices was mostly in line with a weakening trend in Asia after Japan’s economy slumped to recession, while prospects for an OPEC output cut dimmed.
Meanwhile, West Texas Intermediate crude oil for delivery in December was down 32 cents, to USD 75.32, while Brent crude for January next was down 43 cents to USD 78.88 a barrel in late-morning trade on the New York Mercantile Exchange. (PTI)
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