Crude oil prices dipped 0.39 percent to Rs 4,116 per barrel in futures trade on May 28 as speculators tightened their bets in tandem with a mixed trend overseas.
On the Multi Commodity Exchange, crude for delivery in May contracts was trading down by Rs 16, or 0.39 percent, to Rs 4,116 per barrel in a business turnover of 15,311 lots.
Oil prices remained mixed in international markets. The commodity received some cushion on the Opec-led producers' club announcing supply cut, and sanctions on fuel exports from Iran and Venezuela.
But the sentiments were dented on the concerns of US economic slowdown.
West Texas Intermediate crude prices were trading up 0.53 percent to $58.94, while Brent dipped 0.33 percent at $69.88 a barrel in New York.
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