Crude oil down by 1.3% on weak global cues
Speculators cut down their bets in line with a weak trend in Asian trade
 "Crude oil down by 1.3% on weak global cues")
Crude oil futures fell 1.28% to Rs 2,313 per barrel today, in line with a weak trend in Asian trade, as speculators cut down their bets.
Crude oil for delivery in current month was trading lower by Rs 30, or 1.28%, at Rs 2,313 per barrel, with a business volume of 4,372 lots at Multi Commodity Exchange (MCX).
Also, oil prices for the far-month April delivery was trading down by Rs 24, or 0.97%, at Rs 2,450 per barrel, with a business volume of 124 lots.
Meanwhile, West Texas Intermediate for April delivery fell 33 cents to $34.07, while Brent for May was trading 12 cents lower at $36.09 a barrel on the New York Mercantile Exchange.
Crude oil for delivery in current month was trading lower by Rs 30, or 1.28%, at Rs 2,313 per barrel, with a business volume of 4,372 lots at Multi Commodity Exchange (MCX).
Also, oil prices for the far-month April delivery was trading down by Rs 24, or 0.97%, at Rs 2,450 per barrel, with a business volume of 124 lots.
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Analysts said the fall in crude oil futures is mostly in tune with a weak trend in Asia as traders awaited the release of US crude inventory data, which are expected to show a further rise in stockpiles.
Meanwhile, West Texas Intermediate for April delivery fell 33 cents to $34.07, while Brent for May was trading 12 cents lower at $36.09 a barrel on the New York Mercantile Exchange.