NEW DELHI, Nov 13: Crude oil futures fell by 0.11 per cent to Rs 4,751 per barrel today as speculators trimmed positions amidst a weak trend in Asian markets.
The trading sentiment turned weak in futures trade on a stronger US dollar and expectations that the OPEC cartel is unlikely to cut production levels to counter a global supply glut, analysts said.
At the Multi Commodity Exchange, crude oil for delivery in current month shed Rs 5, or 0.11 per cent, to Rs 4,751 per barrel in 1,192 lots.
The oil for December delivery moved down by a similar margin to trade at Rs 4,776 per barrel in a volume of 200 lots.
Meanwhile, West Texas Intermediate (WTI) crude oil for December delivery was down by 15 cents to USD 77.03 a barrel, while Brent crude shed 37 cents to USD 80.01 per barrel in late-morning trade on the New York Mercantile Exchange. (PTI)
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