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Crude oil futures prices fell 0.25 per cent to Rs 6,029 per barrel today, after speculators reduced their exposures amid a subdued trend in the Asian trade.
On the Multi Commodity Exchange, crude oil for delivery in November fell Rs 16 or 0.25 per cent to Rs 6,029 per barrel in 1,067 lots. Similarly, December contracts moved down by a similar margin to Rs 6,072 per barrel in a turnover of 55 lots.
Trading sentiment remained bearish at the futures trade as crude prices declined in Asian trade as a rise in US stockpiles indicated weak demand in the world’s biggest economy, while there are growing concerns about supplies from West Asia, analysts said.
Meanwhile, West Texas Intermediate (WTI) crude oil for December delivery shed 13 cents to $97.72 a barrel in mid-morning trade on the New York Mercantile Exchange.
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