Mumbai, Oct. 10 -- MCX October crude oil futures slipped 0.5% to Rs.5440 per barrel in Friday's Asian session, mirroring global weakness as WTI traded near $61 per barrel. Oil prices softened after Israel and Hamas reached the first phase of a US and Qatar-mediated ceasefire, easing geopolitical risk premiums built up in recent weeks. The dollar's firm tone, with the index around 99 and heading for its strongest weekly gain in a year, added pressure on commodities. Still, the downside remained capped as traders weighed fresh US sanctions on more than 50 Iran-linked firms, vessels, and refineries, while OPEC+'s modest output increase signaled continued supply discipline.
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