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Crude oil futures slip on subdued global cues

West Texas Intermediate crude oil traded 0.58 per cent lower at $58.20 per barrel.

PTI|
Last Updated: Jan 21, 2020, 02.41 PM IST
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Crude oil for February delivery dropped by Rs 32, or 0.74 per cent, to Rs 4,150 per barrel with a business volume of 24,027 lots.
Crude oil futures on Tuesday fell by Rs 32 to Rs 4,150 per barrel after participants reduced positions tracking a subdued demand at the spot market.

On the Multi Commodity Exchange, crude oil for February delivery dropped by Rs 32, or 0.74 per cent, to Rs 4,150 per barrel with a business volume of 24,027 lots.

Crude oil for March delivery was quoting lower by Rs 30, or 0.72 per cent, at Rs 4,157 per barrel with an open interest of 586 lots.

Analysts said the fall in crude oil futures was mostly due to trimming of positions by traders amid weak spot demand.

Globally, West Texas Intermediate crude oil traded 0.58 per cent lower at $58.20 per barrel.

Brent Crude, the international benchmark, dropped 0.84 per cent to trade at $64.65 per barrel in New York.

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