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Crude oil futures trade lower on weak global cues

Crude oil futures trade lower on MCX as speculators cut down their bets due to weak trend in the global markets where Oil prices retreated from multi-year highs, pulled back by an industry organization's comment that US crude stockpiles built unexpectedly last week.

The contract for May delivery was trading at Rs 4828.00, down by 0.45% or Rs 22.00 from its previous closing of Rs 4850.00. The open interest of the contract stood at 20800 lots.

The contract for June delivery was trading at Rs 4846.00, down by 0.47% or Rs 23.00 from its previous closing of Rs 4869.00. The open interest of the contract stood at 4875 lots on MCX.

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