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Crude oil slips 0.02 pc on subdued domestic cues

Press Trust of India  |  New Delhi 

Crude prices Tuesday fell 0.02 per cent to Rs 4,311 per as speculators indulged in reducing holdings despite a steady trend overseas.

In futures trading on the Multi Commodity Exchange, crude for delivery in May contracted fell by Re 1, or 0.02 per cent, to Rs 4,311 per in a business volume of 18728 lots.

Analysts said continuous off-loading of holdings by participants in line with a weakening trend in domestic markets, mainly weighed on crude prices at futures trade here.

The for delivery in June contracts also lost Rs 17, or 0.39 per cent, to Rs 4,323 per in 2,189 lots.

The prices in the global markets, however, rose after supply assurance from amid US-tensions, say analysts.

The Intermediate (WTI) crude was trading up 0.08 per cent to USD 61.09, while Brent crude, the international benchmark, rose 0.24 per cent to USD 70.40 a barrel on the

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 14 2019. 13:21 IST