MCX Commodity Watch on Crude Oil Today

Crude oil futures declined by Rs 47 to Rs 3333 pb, on Thursday amid concerns about oversupply.

On Wednesday, Crude oil futures conversely ended higher buoyed by a third consecutive weekly fall in US crude supplies and a plunge in distillate stocks. 

At the Multi Commodity Exchange (MCX), crude for delivery in January was trading down by Rs 47, or 1.39% to Rs 3,333 per barrel in 25,395 lots. In a similartrend, the oil for February delivery also declined by Rs 45, or 1.32% to Rs3,373 per barrel in volume of 539 lots.

Brent crude futures fell to USD 56.58 per barrel, which is showing a decline of 1.2%, while WTI crude slipped below USD 45.79 per barrel.