NEW DELHI: Crude oil futures on Monday declined 1.57 per cent to Rs 7,074 per barrel as contributors trimmed their positions after Iran’s assault on Israel. On the Multi Commodity Alternate, crude oil for April supply fell Rs 113 or 1.57 per cent to Rs 7,074 per barrel with a enterprise quantity of 6,469 tons.
“Oil costs are buying and selling decrease on profit-booking and as danger premium resulting from Israel-Iran tussle eased after the weekend developments,” Pranav Mer, Vice President, EBG – Commodity & Forex Analysis at JM Monetary Companies Ltd, stated.
Globally, West Texas Intermediate crude oil traded 1.04 per cent decrease at USD 84.77 per barrel, whereas Brent crude was buying and selling 0.95 per cent decrease at USD 89.59 per barrel in New York.
“Oil costs are buying and selling decrease on profit-booking and as danger premium resulting from Israel-Iran tussle eased after the weekend developments,” Pranav Mer, Vice President, EBG – Commodity & Forex Analysis at JM Monetary Companies Ltd, stated.
Globally, West Texas Intermediate crude oil traded 1.04 per cent decrease at USD 84.77 per barrel, whereas Brent crude was buying and selling 0.95 per cent decrease at USD 89.59 per barrel in New York.
