 "Crude oil falls by 0.4% on weak global cues")
Crude oil futures fell by 0.44% to Rs 3,201 per barrel today as speculators indulged in trimming positions amid a weakening trend overseas on demand worries.
At the Multi Commodity Exchange, crude oil for delivery in January traded Rs 14, or 0.44%, lower to Rs 3,201 per barrel in 5,298 lots.
In a likewise manner, oil for February delivery contracts moved down by Rs 14, or 0.43%, to Rs 3,260 per barrel in 357 lots.
Meanwhile, West Texas Intermediate (WTI) crude for February hit as low as $49.95, a level not seen since May 2009, before closing at $50.04, down $2.65 in yesterday's trade. Brent also fell by $3.31 to $53.11.
At the Multi Commodity Exchange, crude oil for delivery in January traded Rs 14, or 0.44%, lower to Rs 3,201 per barrel in 5,298 lots.
In a likewise manner, oil for February delivery contracts moved down by Rs 14, or 0.43%, to Rs 3,260 per barrel in 357 lots.
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The trading sentiment in crude oil dampened at futures after the US contract fell below the psychological $50 mark in New York in yesterday's trade on demand worries, a strong dollar and a global supply glut, analysts said.
Meanwhile, West Texas Intermediate (WTI) crude for February hit as low as $49.95, a level not seen since May 2009, before closing at $50.04, down $2.65 in yesterday's trade. Brent also fell by $3.31 to $53.11.
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