Crude oil down 0.55% on profit-booking
Firm trend in Asia caps losses
Crude oil futures prices fell by 0.55% to Rs 5,245 per barrel today as speculators booked profits.
A firming trend in Asian trade capped the losses.
At the Multi Commodity Exchange, crude oil for delivery in September shed Rs 29, or 0.55%, to Rs 5,245 per barrel, with a business volume of 16,690 lots.
The October contract moved down by Rs 23, or 0.43%, to Rs 5,271 per barrel, with a turnover of 5,574 lots.
Marketmen said the fall in crude oil futures prices was due to profit-booking by speculators but a rebound in the Asian region restricted the losses.
Meanwhile, crude oil for delivery in October gained 46 cents to $97.08 a barrel on the New York Mercantile Exchange.