Crude oil falls 0.17pc on weak domestic cues

MCX Crude

Crude oil prices declined by Rs7 to Rs4,139 a barrel in futures trade on Friday as speculators were occupied in generating speculative positions, taking positive cues from Indian markets.

At the Multi Commodity Exchange (MCX), crude oil for delivery in April was quoting lower by Rs7, or 0.17% to Rs4139per barrel, in a business turnover of 16293 lots.

The global markets remained upbeat as WTI crude gained 0.12% to USD 60.05, while Brent was up 0.07% to USD 67.91/ barrel.

Crude prices have been advanced by almost a third since the beginning of 2019 by supply cuts led by the OPEC Countries, and sanctions acted against Iran & Venezuela by the U.S.

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