Sanctions game
The global oil market has become a battleground of sanctions and strategic manoeuvres.
Crude oil futures fell by Rs 66 to Rs 4,027 per barrel on Thursday, 1 March, as speculators reduced their bets amid a weakening trend overseas.
At the Multi Commodity Exchange, crude for delivery in March dropped Rs 66, or 1.61 per cent, to Rs 4,027 per barrel in 4,365 lots.
Similarly, oil for delivery in April moved down Rs 64, or 1.56 per cent, to Rs 4,031 per barrel in 121 lots.
Advertisement
Marketmen said the trading sentiment at futures trade dampened after crude oil prices eased in global market after US inventories rose by 3 million barrels last week.
Meanwhile, West Texas Intermediate (WTI) crude rose 0.13 per cent, to USD 61.72, while Brent crude slipped 0.05 per cent, to USD 64.70 per barrel on the New York Mercantile Exchange.
Advertisement
