WTI crude oil for
delivery on April 13 was seen trading at $89.72 a barrel, a loss of
$0.96 or 1.06% as of 09.47 PM IST registering a figure below $90 for the
first time in 2013. The trend looks negative. Meanwhile, brent crude
oil for delivery on the same date was spotted trading at $109.80 a
barrel, a loss of 0.54% or $0.59 as of 9.49 PM IST.
The US President Obama has signed into law the US Congress bill to effect so-called sequestration or cuts to the tune of $1.2 trillion over the next decade. This year would see cuts of $85 billion getting effected. This coupled with weak Chinese data in service sector performance has brought down the futures, it seems.
On India's MCX, crude oil for March delivery was seen trading at Rs.4958 a loss of 1.18% as of 09.54 PM IST.
The US President Obama has signed into law the US Congress bill to effect so-called sequestration or cuts to the tune of $1.2 trillion over the next decade. This year would see cuts of $85 billion getting effected. This coupled with weak Chinese data in service sector performance has brought down the futures, it seems.
On India's MCX, crude oil for March delivery was seen trading at Rs.4958 a loss of 1.18% as of 09.54 PM IST.
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