Crude Oil Futures Slip 0.88% On Weak Global Cues

Crude oil futures fell 0.88 percent to Rs 3,842 per barrel on January 22 after participants reduced exposure, in tune with a weak trend in Asian markets.

At the Multi Commodity Exchange, crude oil for delivery in February shed Rs 34, or 0.88 percent, to trade at Rs 3,842 per barrel with a business volume of 7,951 lots.

Marketmen said the fall in crude oil futures was mostly due to trimming of positions by traders in tandem with a weakening trend in Asian trade.

Meanwhile, West Texas Intermediate crude oil was down 0.63 percent to USD 53.70. Brent, used to price international oil, fell 0.80 percent to trade at USD 62.24 a barrel.

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