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MTECHTIPS;-Crude futures down over 1% in afternoon trade

Wednesday, October 16, 2019 9:26

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MTECHTIPS;-Crude futures down over 1% in afternoon trade

MTECHTIPS-Crude oil futures were down 1.15 percent to Rs 3,780 per barrel on October 16 after participants increased their bets, tracking a weak trend overseas, after OPEC signalled a deeper cut in oil output. On the Multi Commodity Exchange, crude oil for delivery in October contracts was trading lower by Rs 46, or 1.2 percent, at Rs 3,778 per barrel. Crude contracts for November delivery edged lower by Rs 44, or 1.14 per cent, to Rs 3,800 per barrel. Value of the October and November contracts traded so far is Rs 2,369.92 crore and Rs 85.46 crore, respectively. Meanwhile, West Texas Intermediate crude is marginally up (0.08 percent) at $52.85 per barrel, and Brent crude, the international benchmark, was down 0.02 percent at $58.73 per barrel

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