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Crude oil futures decline on profit-taking

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Press Trust of India New Delhi

Crude oil prices slipped by Rs 7 to Rs 4,110 per barrel in futures trade today as speculators indulged in profit-bookings at existing higher levels.

At the Multi Commodity Exchange, crude oil for February month declined by Rs 7, or 0.17 per cent to Rs 4110 per barrel with a business turnover of 3 lots.

Similarly, the oil for delivery in December month lost Rs 5, or 0.15 per cent to Rs 4,017 per barrel with a business volume of 41 lots.

Analysts said profit-booking by speculators at existing higher levels mainly led to the decline in crude oil futures prices.

 

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First Published: Dec 10 2010 | 4:29 PM IST

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