As the tension in the Middle East region eases, prices of crude oil slipped on Friday by 0.17 per cent to Rs 4,230 per barrel in futures trade.

On the Multi Commodity Exchange, Crude oil for January delivery traded lower by Rs 7, or 0.17 per cent, or 0.21 per cent, at Rs 4,230 per barrel in 23,488 lots.

Crude oil for February delivery was down Rs 9, at Rs 4,234 per barrel with an open interest of 820 lots.

Concerns over US-Iran standoff eased further after US lawmakers introduced a resolution on Thursday aimed at reining in President Donald Trump’s ability to take military action against Iran, according to analysts.

Globally, the West Texas Intermediate (WTI) was trading lower by 0.18 per cent at USD 59.45 per barrel.

Meanwhile, Brent crude, the international benchmark, edged lower by 0.12 per cent to USD 65.29 per barrel in New York.

(With input from agencies)