Crude oil down on weak overseas cues

Image
Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 2:34 AM IST

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.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Sep 22 2011 | 2:39 PM IST

Next Story