Crude oil down 0.35% on Asian cues

Crude oil futures prices today fell by 0.35% to Rs 6,036 per barrel, after speculators reduced exposures amid a subdued trend in Asian trade on expectations of a further rise in US inventories.

 

At the Multi Commodity Exchange, crude oil for delivery in November fell by Rs 21 or 0.35%, to Rs 6,036 per barrel in 2,146 lots.

 

The oil for December delivery moved down by Rs 18, or 0.29% to Rs 6,085 per barrel in a turnover of 129 lots.

 

The trading sentiment remained bearish at futures trade as crude prices declined in Asian trade on expectations of a further increase in US stockpiles, indicating weak demand in the world's top consumer, analysts said.

 

 

Meanwhile, crude oil for December delivery shed 57 cents to $97.63 a barrel in mid-morning trade on the New York Mercantile Exchange.