Crude oil down 0.8% on weak overseas cues
Oil for delivery in November traded lower by 0.7%
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<a href="http://www.shutterstock.com/pic-33742723/stock-photo-many-barrels-of-oil-on-a-white-background.html?src=4E5JmKDWXyFhy3gm4lyKlQ-1-32" target="_blank">Crude Oil</a> image via Shutterstock
Crude oil prices moved down by 0.82% to Rs 6,275 per barrel in futures trade today as participants engaged in trimming positions, taking a weak cues from overseas markets.
At the Multi Commodity Exchange, crude oil for delivery in October fell by Rs 52, or 0.82%, to Rs 6,275 per barrel in business turnover of 7,290 lots.
In a similar fashion, the oil for delivery in November traded lower by Rs 50, or 0.78%, to Rs 6,323 per barrel in 878 lots.
Analysts said fall in crude oil futures was attributed to a weak trend in overseas markets.
Meanwhile, the oil fell four cents to USD 102.25 a barrel on the New York Exchange in morning trade.
At the Multi Commodity Exchange, crude oil for delivery in October fell by Rs 52, or 0.82%, to Rs 6,275 per barrel in business turnover of 7,290 lots.
In a similar fashion, the oil for delivery in November traded lower by Rs 50, or 0.78%, to Rs 6,323 per barrel in 878 lots.
Analysts said fall in crude oil futures was attributed to a weak trend in overseas markets.
Meanwhile, the oil fell four cents to USD 102.25 a barrel on the New York Exchange in morning trade.
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First Published: Oct 17 2013 | 1:33 PM IST