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Crude Oil Prices Fall On Record US Output

Crude Oil Rises On Iran Sanctions risk,
Crude Oil Rises On Iran Sanctions risk,

Crude Oil prices declined on Thursday, dragged down by a record crude-oil production in the United States that led to a rise in stock-piles.

Spot Brent-crude oil futures were at USD71.91/bbl in early trade 0.4pc, below their last close, while US WTI crude futures were down 0.3pc at USD63.41/bbl.

The Energy Information that US crude supplies rose by 9.9mln barrels for the week ended April 26. Benchmark crude oil futures for June fell 0.5pc to settle at USD63.60/bbl on the New York Mercantile Exchange. However, July Brent crude added 0.2pc to settle at USD72.18 a barrel on London Inter-continental Exchange.

India’s benchmark indices – the Sensex and the Nifty – on Thursday through mid-market session continued to oscillate between gains and losses. At 12:15 IST, the BSE barometer Sensex, was up 30 points at 39,061. The Nifty50 index was flat, at 11,744-mark, down 0.03pc.