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07-Aug2018

Crude oil futures decline on MCX

Crude oil futures declined on MCX, as speculators enlarged their positions, despite reports that the US restored sanctions against the world's fifth-largest oil producer Iran. The crude sanctions will take effect on November 4 this year. Trump also signed an executive order to restrict purchases of dollar banknotes by Iran, preventing the government from trading gold and other precious metals and blocking the nation from selling or acquiring various industrial metals.

The contract for August delivery was trading at Rs 4763.00, down by 0.08% or Rs 4.00 from its previous closing of Rs 4767.00. The open interest of the contract stood at 12896 lots.

The contract for September delivery was trading at Rs 4709.00, down by 0.04% or Rs 2.00 from its previous closing of Rs 4711.00. The open interest of the contract stood at 1265 lots on MCX.


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