Crude oil futures slip 0.22 pc on weak global trend
At Multi Commodity Exchange, crude oil for delivery in April traded Rs 9, or 0.22 per cent, lower at Rs 4,066 per barrel in 7,452 lots.
By : DC Correspondent
Update: 2019-03-25 07:09 GMT
New Delhi: Crude oil futures fell by 0.22 per cent to Rs 4,066 per barrel Monday as speculators reduced positions amid a weakening trend overseas.
At Multi Commodity Exchange, crude oil for delivery in April traded Rs 9, or 0.22 per cent, lower at Rs 4,066 per barrel in 7,452 lots.
The trading sentiment dampened in futures trade after oil prices eased in Asian trade as concerns of a sharp economic slowdown outweighed supply disruption from OPEC's production cutbacks and US sanctions on Iran and Venezuela, analysts said.
Meanwhile, West Texas Intermediate (WTI) crude was down 63 cents, or 1.1 per cent, to USD 58.42, while Brent crude fell 51 cents, or 0.8 per cent, to USD 66.52 a barrel on the New York Mercantile Exchange.