Crude oil down 0.38% on weak Asian cues

Speculators trim positions amid declining crude oil prices in Asian trade

Crude oil futures today fell by Rs 20, or 0.38%, to Rs 5,282 per barrel, as speculators trimmed positions amid a weakening trend in the Asian trade.

At the Multi Commodity Exchange, crude oil for delivery in June fell by Rs 20, or 0.38%, to Rs 5,282 per barrel in 3,367 lots.

Similarly, the oil for July delivery moved down by Rs 17, or 0.32%, to Rs 5,305 per barrel in 87 lots.

The trading sentiment weakened after crude oil prices declined in Asian trade as investors locked profits, marketmen said.

Meanwhile, crude oil for June delivery shed 5 cents to $95.97 a barrel on the New York Mercantile Exchange.