Crude oil prices declined 0.05% to Rs 4,401 per barrel on Tuesday since participants decreased holdings in the midst of a weak trend overseas. Moreover, offloading of participant’s holdings, in proportion to a weak trend in global crude, mostly weighed on Crude oil prices on MCX.
At the Multi Commodity Exchange (MCX), crude for delivery in April knocked down by Rs2, or 0.05pc to Rs4401/pb in a business volume of 18970 lots.
The oil contracts for delivery in May turned down by Rs.2/- or 0.05pc to Rs.4,431/pb in a business volume of 3,328-Lots.
In the interim, the WTI crude fell 0.06% to USD63.44, while Brent-Crude declined 0.24pc to USD71.01/pb on the New York Mercantile Exchange.