Crude oil futures slip 0.47 pc on global cues

NEW DELHI, May 16: Crude oil futures fell 0.47 per cent to Rs 4,827 per barrel today, in line with a weak trend overseas as speculators cut down their bets.
Crude oil for delivery in May contract was trading lower by Rs 23 or 0.47 per cent at Rs 4,827 per barrel with a business volume of 5,030 lots at the Multi Commodity Exchange (MCX).
Oil prices for June delivery was trading lower by a similar margin at Rs 4,846 per barrel with a business volume of 266 lots.
Analysts said the fall in crude oil futures was mostly in tune with a weak trend in the global markets and profit-booking by speculators.
Meanwhile, West Texas Intermediate was down 17 cents, or 0.24 per cent at USD 71.14 a barrel, while global benchmark Brent was down 12 cents, or 0.15 per cent at USD 78.31 a barrel. (PTI)


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