US crude futures extended decline this morning after having came off a 15-month high a day earlier on a stronger US dollar and concerns about the growth of oil demand in China.
Nymex crude for February delivery was down 38 cents at $82.28 a barrel, after settling down for the first time in 11 sessions a day earlier, closing down 52 cents. Prices hit an intraday peak of $83.52 on Wednesday, the highest since October 2008.
On MCX crude opened marginally lower tracking overseas markets trend. However, the counter swayed in narrow range as stronger rupee retreated against the US dollar.
On MCX, crude oil contract for near-month settlement was last quoting at Rs 3,771 after having opened the session at Rs 3,781 a barrel.
Source UTV
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