Brent crude trading lower at $89.59/bbl

Crude oil futures declined 1.57 per cent to Rs7,074 per barrel as participants trimmed their positions after Iran’s attack on Israel. Globally, West Texas Intermediate (WTI) crude oil traded 1.04 per cent lower at $84.77 per barrel, while Brent crude was trading 0.95 per cent lower at $89.59 per barrel in New York. On MCX, crude oil for April delivery fell Rs113 or 1.57 per cent to Rs7,074 per barrel with a business volume of 6,469 lots. “Oil prices are trading lower on profit-booking and as risk premium due to Israel-Iran tussle eased after the weekend developments,” said Pranav Mer, vice-president, EBG (commodity & currency research) at JM Financial Services Ltd.