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Crude oil futures dipped 1.72% to Rs 5,193 per barrel today after speculators reduced exposures amid a weak trend in Asian trade.
At the Multi Commodity Exchange, crude oil for delivery in current month fell by Rs 91, or 1.72%, to Rs 5,193 per barrel in 2,591 lots.
Oil for November delivery moved down by Rs 84, or 1.58%, to Rs 5,184 per barrel with a turnover of 230 lots.
The sentiment turned weak in futures trade, largely in line with a weak trend in Asian markets on growing concerns about demand as equities tumbled on global growth woes and increase in supplies, analysts said.
Meanwhile, West Texas Intermediate crude oil for November delivery shed 94 cents to USD 84.87 a barrel, which is weakest in the last two years.
Likewise, Brent crude lost 96 cents to a four-year low of USD 89.25 in mid-morning trade on the New York Mercantile Exchange.
