Crude slips in futures trade on global cues

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Posted: Wednesday, Nov 04, 2009 at 1349 hrs IST
Updated: Wednesday, Nov 04, 2009 at 1349 hrs IST

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New Delhi: Crude oil futures prices declined by 0.24 per cent on Wednesday as traders indulged in reducing their positions at prevailing higher levels in line with weakening global trend.

Crude oil for December contract fell by 0.24 per cent to Rs 3,770 per barrel with an open interest in 1,791 lots and delivery in November contract shed 0.21 per cent at Rs 3,741 per barrel with an open interest in 14,607 lots. Market analysts said weak trend overseas despite drop in US crude inventories mainly put pressure on the crude oil prices in domestic futures trading in New Delhi.

Meanwhile, crude for December delivery was down 20 cents to USD 79.40 a barrel on the New York Mercantile Exchange.

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Crude slips in futures trade on global cues

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