Monday, November 29, 1999

Crude oil trades lower on weak global cues

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New Delhi, June 18 (PTI) Crude oil prices traded lower by Rs 12, or 0.33 per cent, to Rs 3,667 per barrel in futures trade today, as traders reduced their positions on a weakening global trend. At the Multi Commodity Exchange, crude oil for August contract fell Rs 12, or 0.33 per cent, to Rs 3,667 per barrel, with an open interest of 944 lots. Similarly, the oil for delivery in June contract lost Rs 8, or 0.23 per cent to Rs 3,536 per barrel, with a business volume of 16,390 lots. Marketmen said fresh selling in tandem with a weakening global trend mainly led to a fall in crude oil prices at futures trade here. Meanwhile, New York''s crude contract for delivery in July dropped 17 cents to USD 76.62 a barrel.

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