Crude oil down 0.4% on Asian cues

Weak trend in Asia after mega-storm Sandy tore through eastern coast of the US and forced the shutdown of refineries, roads and airports

Crude oil prices declined by 0.39% to Rs 4,630 per barrel in futures trade today as speculators reduced positions amid a weak trend in Asia.

At the Multi Commodity Exchange, crude oil for delivery in November shed Rs 18, or 0.39%, to Rs 4,630 per barrel, with a business volume of 4,505 lots.

The December contract moved down by Rs 18, or 0.38%, to Rs 4,682 per barrel, with a turnover of 398 lots.

Marketmen said the fall in crude oil futures prices was in line with a weak trend in Asia after mega-storm Sandy tore through the eastern coast of the United States and forced the shutdown of refineries, roads and airports.

Meanwhile, crude oil for delivery in October was down 28 cents to $85.26 a barrel on the New York Mercantile Exchange.