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Crude oil prices declined by 0.69% to Rs 4,781 per barrel in futures trading today as speculators reduced exposures amid a weak trend in Asian trade.
At the Multi Commodity Exchange, crude oil for delivery in November was trading down by Rs 33, or 0.69%, to Rs 4,781 per barrel in a business turnover of 5,453 lots.
Likewise, the oil for delivery in December shed Rs 31, or 0.64%, to Rs 4,809 per barrel in 222 lots.
Analysts said the trading sentiment weakened at futures trade after crude oil prices edged lower in Asian markets today after the OPEC oil cartel slashed its longer-term global demand outlook. A stronger dollar also weighed on the sentiments.
Meanwhile, West Texas Intermediate for December delivery dropped 28 cents to USD 77.63 while Brent crude for December fell 40 cents to USD 82.46 in late-morning trade.
