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Crude oil down on global cues

Fall in crude oil futures prices was in line with a weakening trend in Asia after ratings agency Moody's downgraded the French government bond rating

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Press Trust of India New Delhi

Amid profit-booking by speculators and weak trend in the Asian trade, crude oil futures declined by 0.47% to Rs 4,911 per barrel today.

At the Multi Commodity Exchange, crude oil for delivery in December shed Rs 23, or 0.47 per cent, to Rs 4,934 per barrel, with a business volume of 12,200 lots.

Similarly, the oil for January delivery moved down by Rs 23, or 0.46 per cent, to Rs 4,968 per barrel, with a turnover of 817 lots.

Marketmen said the fall in crude oil futures prices was in line with a weakening trend in Asia after ratings agency Moody's downgraded the French government bond rating.

Meanwhile, crude oil for delivery in January was down 31 cents to $88.97 a barrel on the New York Mercantile Exchange.

 

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First Published: Nov 20 2012 | 1:10 PM IST

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