Crude oil futures down on Asian cues

Crude oil futures prices fell by 0.39% to Rs 5,107 per barrel today largely in tandem with a weakening trend in Asian trade.

At the Multi Commodity Exchange, crude oil for delivery in August shed Rs 20, or 0.39%, to Rs 5,107 per barrel, with a business volume of 14,849 lots.

The September contract fell by similar margin to trade at Rs 5,149 per barrel, with a turnover of 1,303 lots.

Marketmen said the fall in crude oil futures prices was mostly in line with a weakening trend in Asian trade on speculation that gains may have been excessive amid worse-than -expected US economic data and signs seasonal crude demand is weakening.

Meanwhile, August crude was down 72 cents to $91.94 a barrel on the New York Mercantile Exchange.