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Crude oil futures slip on sluggish cues

Crude oil futures on Tuesday fell by Rs 11 to Rs 4,390 per barrel after participants reduced positions, tracking a subdued trend in global markets.

On the Multi Commodity Exchange, crude oil for January delivery dropped by Rs 11, or 0.25 per cent, to Rs 4,390 per barrel with a business volume of 18,029 lots.

Crude oil for February delivery was quoting lower by Rs 9, or 0.2 per cent, at Rs 4,388 per barrel with an open interest of 436 lots.

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

Globally, West Texas Intermediate crude oil was trading 0.19 per cent lower at $61.56 per barrel.

However, Brent Crude, the international benchmark, gained 0.41 per cent to trade at $68.44 per barrel in New York. PTI VHP

Source: Economic Times