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Crude oil futures trade tad lower on MCX

Crude oil futures traded marginally lower on MCX, as speculators cut bets on concerns about the recent weakness seen in emerging markets. However, some losses were capped by looming US sanctions against Iran, that are expected to tighten the market after being implemented from November. Meanwhile, a public comment period on possible US tariffs on another $200 billion of Chinese goods ends on September 6, 2018, with expectations that US President Donald Trump will impose the additional levies.

The contract for September delivery was trading at Rs 4932.00, down by 0.04% or Rs 2.00 from its previous closing of Rs 4934.00. The open interest of the contract stood at 17519 lots.

The contract for October delivery was trading at Rs 4933.00, down by 0.02% or Rs 1.00 from its previous closing of Rs 4934.00. The open interest of the contract stood at 1818 lots on MCX.

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