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04-Apr2018

Crude oil futures trade marginally lower on MCX

Crude oil futures trade marginally lower on MCX amid expectations that Saudi Arabia will cut prices of the crude it sends to Asia. Further, rising supply also putting pressure on oil markets. Despite the production cut agreement with the Organization of the Petroleum Exporting Countries (OPEC), top producer Russia pumped 10.97 million barrels per day (bpd) of crude in March, up from 10.95 million bpd in February, an 11 month high.

The contract for April delivery was trading at Rs 4117.00, down by 0.24% or Rs 10.00 from its previous closing of Rs 4127.00. The open interest of the contract stood at 16714 lots.

The contract for May delivery was trading at Rs 4126.00, down by 0.27% or Rs 11.00 from its previous closing of Rs 4137.00. The open interest of the contract stood at 1594 lots on MCX.


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