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Crude oil futures slip on domestic cues

Crude oil futures on Thursday fell by Rs 10 to Rs 4,334 per barrel after participants reduced positions despite the oil gaining overseas.

On the Multi Commodity Exchange, crude oil for January delivery dropped by Rs 10, or 0.23 per cent, to Rs 4,334 per barrel with a business volume of 25,747 lots.

Crude oil for February delivery was quoting lower by Rs 8, or 0.18 per cent, at Rs 4,330 per barrel with an open interest of 459 lots.

Analysts said the fall in crude oil futures was mostly due to trimming of positions by traders.

Globally, West Texas Intermediate crude oil was trading 0.07 per cent higher at $60.97 per barrel.

Meanwhile, Brent Crude, the international benchmark, advanced 0.08 per cent to trade at $66.22 per barrel in New York.

Source: Economic Times