Crude oil down 0.4% on Asian cues

September contract down by similar margin

Crude oil futures prices declined by 0.41% to Rs 5,133 per barrel today in line with a weak trend in Asian trade.

At the Multi Commodity Exchange, crude oil for delivery in August shed Rs 41, or 0.41%, to Rs 5,133 per barrel, with a business volume of 15,498 lots.

The September contract moved down by Rs 22, or 0.42%, to Rs 5,188 per barrel, with a turnover of 1,959 lots.

Marketmen said the fall in crude oil futures prices was in line with a weakening trend in Asia.

Collapse in China's export growth added to signs that the global economy is weakening.

 

Meanwhile, crude oil for delivery in September fell 42 cents to $92.94 a barrel on the New York Mercantile Exchange.