Crude oil fall by 1% on weak Asian cues
Speculators started trimming bets amid a weakening trend in Asian trade
 "Crude oil fall by 1% on weak Asian cues")
Crude oil futures fell 1.05% to Rs 3,006 per barrel today as speculators started trimming bets amid a weakening trend in Asian trade.
Crude oil for delivery in August at Multi Commodity Exchange was trading lower by Rs 32, or 1.05%, at Rs 3,006 per barrel in 2,853 lots.
Also, oil for September delivery moved down Rs 32, or 1.04%, to Rs 3,053 per barrel in 164 lots.
US benchmark West Texas Intermediate for September fell 36 cents to $46.76 while Brent crude for September eased 42 cents to $51.79 in morning trade.
Crude oil for delivery in August at Multi Commodity Exchange was trading lower by Rs 32, or 1.05%, at Rs 3,006 per barrel in 2,853 lots.
Also, oil for September delivery moved down Rs 32, or 1.04%, to Rs 3,053 per barrel in 164 lots.
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Analysts said the trading sentiment eased in futures trade after crude prices fell in Asian trade today on persistent concerns about the global supply glut after OPEC's indication that it will not budge from its current lofty output levels.
US benchmark West Texas Intermediate for September fell 36 cents to $46.76 while Brent crude for September eased 42 cents to $51.79 in morning trade.