Crude oil down on weak overseas cues
Crude oil futures fell by 1.81%, to Rs 4,133 per barrel today as speculators reduced their positions amid a weakening trend overseas.
At the Multi Commodity Exchange, the October contract fell by Rs 76, or 1.81%, to Rs 4,133 per barrel, with a trading volume of 12,144 lots.
The November contract lost Rs 73, or 1.72%, to Rs 4,165 per barrel, with a turnover of 801 lots.
Analysts said fall in crude oil futures was mostly in line with a weakening trend in Asian markets after the US central bank warned of significant downside risks to the American economy.
Meanwhile, the New York's main contract crude for November delivery fell by $1.21 to $84.71 a barrel in the Asian region today.