Crude oil prices extended losses, falling by 0.31 per cent on Wednesday at the domestic markets after US crude oil stockpiles rose 8.97 million barrels to the highest level since July 1981 at 396.3 million barrels last week, the American Petroleum Institute (API) said signaling weakening demand for the fuel in the world’s biggest crude oil consuming nation. At the MCX, crude oil futures for June 2013 contract were trading at Rs. 5,500 per barrel, down by 0.31 per cent, after opening at Rs. 5,512
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