Crude oil down on weak Asian cues

Eurozone's financial woes, weak US economic data also pulled prices down

Continuing its slide, crude oil futures price today fell marginally by 0.28% to Rs 4,667 per barrel as speculators engaged in reducing their positions amid a weak trend in the Asian trade on euro zone's financial woes and weak US economic data.

At the MCX, crude oil for delivery in July shed Rs 13, or 0.28%, to Rs 4,667 per barrel, with a business volume of 232 lots.

The June contract moved down by Rs 12, or 0.26%, to Rs 4,625 per barrel, clocking a turnover of 2,847 lots.

Marketmen said the fall in crude oil futures prices was mostly attributed to a weakening trend in Asian trade as weak US consumer data and the euro zone's financial woes dragged on sentiment ahead of a key OPEC meeting later in the day.

Meanwhile, crude oil for delivery in July was down 23 cents to $82.39 per barrel on the New York Mercantile Exchange.