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Crude oil futures down on Asian cues

July contract sheds 0.17% to Rs 4,765 a barrel on MCX, August delivery loses 0.21%

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Press Trust of India New Delhi

Crude oil futures prices declined by 0.21% to Rs 4,808 per barrel today, tracking a weak trend in Asian trade.

At the Multi Commodity Exchange, crude oil for delivery in August shed Rs 10, or 0.21%, to Rs 4,808 per barrel, with a business volume of 1,230 lots.

July crude lost Rs 8, or 0.17%, to Rs 4,765 per barrel, with a turnover of 12,597 lots.

Marketmen said the fall in crude oil futures prices was mostly in line with a weakening trend in Asian trade as the US Federal Reserve's minutes from last month's key policy meeting showed no definite action plan or timeline for further stimulus measures.

 

Meanwhile, crude oil for delivery in August was down 16 cents to $85.65 a barrel on the New York Mercantile Exchange.

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First Published: Jul 12 2012 | 12:42 PM IST

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