Crude oil declines 0.17% on subdued domestic cues

Crude oil prices dipped by Rs 7 to Rs 4,139 per barrel in futures trade on Friday as speculators were indulged in creating speculative positions, taking positive cues from domestic markets.

At the Multi Commodity Exchange, crude oil for delivery in April was trading lower by Rs 7, or 0.17 per cent, to Rs 4,139 per barrel, in a business turnover of 16,293 lots.

Analysts said, tightening of positions were created by traders as oil prices slipped in domestic markets.

However, the global markets remained upbeat as West Texas Intermediate gained 0.12 per cent to USD 60.05, while global benchmark Brent was up 0.07 per cent to USD 67.91 per barrel.

@moneycontrol.com