MCX Crude oil futures slipped following bearish trend in the international market. Crude oil prices dropped USD 3.07 to USD 71.18 per barrel on Tuesday on profit-taking by speculators in anticipation of Friday`s special meeting of the Organization of Petroleum Exporting Countries in Vienna.
At the MCX, Crude oil November,2008 contract opened at Rs 3,740 as against its earlier closing of Rs 3,745 and traded at Rs 3,612 a bbl, down 3.55% (6.41 p.m., Tuesday).
Crude oil December, 2008 contract moved down by 3.42% at Rs 3,648 a bbl after opening at Rs 3,755 in morning session. Crude oil January, 2009 contract was trading down 3.74% at Rs 3,782 a bbl as against its previous closing of Rs 3,929.
