Crude oil down by 0.6% on weak Asian cues
Speculators trimmed positions amid a weak trend in Asian trade
 "Crude oil down by 0.6% on weak Asian cues")
Crude oil futures today fell by 0.63% to Rs 4,753 per barrel as speculators trimmed positions amid a weak trend in Asian trade.
At the Multi Commodity Exchange, crude oil for delivery in November month contracts fell by Rs 30, or 0.63%, to Rs 4,753 per barrel in 1,329 lots.
Besides, oil for December delivery moved down by Rs 29, or 0.62%, to Rs 4,784 per barrel in 150 lots.
Meanwhile, West Texas Intermediate crude for December delivery shed 11 cents to $77.29, while Brent crude for December eased 22 cents to $82.12 a barrel in mid-morning trade on the New York Mercantile Exchange.
At the Multi Commodity Exchange, crude oil for delivery in November month contracts fell by Rs 30, or 0.63%, to Rs 4,753 per barrel in 1,329 lots.
Besides, oil for December delivery moved down by Rs 29, or 0.62%, to Rs 4,784 per barrel in 150 lots.
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Analysts said the fall in crude prices at futures trade was primarily after it ended losses in the Asian trade as the prospects of a production cut by the OPEC oil cartel dimmed, despite a global supply glut.
Meanwhile, West Texas Intermediate crude for December delivery shed 11 cents to $77.29, while Brent crude for December eased 22 cents to $82.12 a barrel in mid-morning trade on the New York Mercantile Exchange.