Crude oil futures eased by Rs 33 to Rs 4,601 per barrel as speculators were engaged in reducing their exposure amid a weakening trend overseas.
At the Multi Commodity Exchange, crude for delivery in November was trading lower by Rs 33, or 0.71 per cent, to Rs 4,601 a barrel in a business turnover of 759 lots.
The oil for delivery in December also fell by Rs 29, or 0.62 per cent, to Rs 4,627 a barrel in 25 lots.
Traders said a mixed trend in global market as the US imposed sanctions on Iran but granted eight countries temporary waivers allowing them to keep buying oil from the Islamic Republic, weighed on the crude prices here.
The West Texas Intermediate (WTI) crude lost 0.24 per cent, to USD 62.95, while Brent crude, the international benchmark fell 0.40 per cent to USD 72.88 per barrel at the New York Mercantile Exchange.
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