Crude oil futures down on global cues

Dec 13 2012, 13:27 IST
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SummaryAmid a weak trend overseas, crude oil futures declined by 0.61 per cent to Rs 4,700 per barrel today.

Amid a weak trend overseas, crude oil futures declined by 0.61 per cent to Rs 4,700 per barrel today as participants reduced their positions. At the Multi Commodity Exchange, crude oil for delivery in December shed Rs 29, or 0.61 per cent, to Rs 4,700 per barrel, with a business volume of 12,361 lots.

Similarly, oil prices for January delivery moved down by Rs 27, or 0.56 per cent, to Rs 4,761 per barrel, with a turnover of 2,507 lots.

Marketmen said the fall in crude oil futures prices was in line with a weakening trend in Asia after the Organisation of Petroleum Exporting Countries (OPEC) warned of an oversupply as uncertainty surrounds the outlook for the global economy, analysts said.

Meanwhile, crude oil for delivery in January was down 19 cents to USD 86.58 a barrel on the New York Mercantile Exchange.Crude oil futures down on global cues

New Delhi, Dec 13 (PTI) Amid a weak trend overseas, crude oil futures declined by 0.61 per cent to Rs 4,700 per barrel today as participants reduced their positions. At the Multi Commodity Exchange, crude oil for delivery in December shed Rs 29, or 0.61 per cent, to Rs 4,700 per barrel, with a business volume of 12,361 lots.

Similarly, oil prices for January delivery moved down by Rs 27, or 0.56 per cent, to Rs 4,761 per barrel, with a turnover of 2,507 lots.

Marketmen said the fall in crude oil futures prices was in line with a weakening trend in Asia after the Organisation of Petroleum Exporting Countries (OPEC) warned of an oversupply as uncertainty surrounds the outlook for the global economy, analysts said.

Meanwhile, crude oil for delivery in January was down 19 cents to USD 86.58 a barrel on the New York Mercantile Exchange.

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