Crude oil down 0.77% on Asian cues

Profit-booking, anticipation of Chinese trade data influence prices

Crude oil futures prices declined by 0.77% to Rs 4,996 per barrel today in line with a weak trend in Asian trade on lingering concerns over the eurozone debt crisis.

At the Multi Commodity Exchange, crude oil for delivery in December shed Rs 39, or 0.77%, to Rs 4,996 per barrel, with a business volume of 49 lots.

The October contract moved down by Rs 37, or 0.74%, to Rs 4,931 per barrel, with a turnover of 10,060 lots.

The oil for delivery in November fell by Rs 36, or 0.70%, to Rs 4,962 per barrel, with a turnover of 945 lots.

Marketmen said the fall in crude oil futures prices was in line with a weakening trend in Asian trade on profit-booking after last week's rally, and ahead of the release of Chinese trade data later this week.

Meanwhile, crude oil for delivery in November fell $1.01 to $91.88 a barrel on the New York Mercantile Exchange.