Crude Slips More Than A Percent

Crude oil futures slipped by more than a percent today as profit selling emerged in the counter after the recent spurt. However, sentiments remained tense after the United States, France and Britain launched 105 missiles on Saturday, targeting what they said were three chemical weapons facilities in Syria in retaliation for a suspected poison gas attack earlier this month. However, prices slipped as traders eyed a rise in US oil drilling activity. US energy companies added seven oil rigs drilling for new production in the week to April 13, bringing the total to 815, the highest since March 2015, energy services firm Baker Hughes said on Friday. This pulled WTI Crude oil futures under $ 67 per barrel and the counter currently trades at $ 66.58 per barrel, down 1.20% on the day. MCX Crude oil futures are currently trading at Rs 4361 per barrel, down 0.89% on the day as a break under Rs 4400 triggered hefty selling.