Crude oil down 0.55% on profit-booking

Firm trend in Asia caps losses

Crude oil futures prices fell by 0.55% to Rs 5,245 per barrel today as speculators booked profits.

A firming trend in Asian trade capped the losses.

At the Multi Commodity Exchange, crude oil for delivery in September shed Rs 29, or 0.55%, to Rs 5,245 per barrel, with a business volume of 16,690 lots.

The October contract moved down by Rs 23, or 0.43%, to Rs 5,271 per barrel, with a turnover of 5,574 lots.

Marketmen said the fall in crude oil futures prices was due to profit-booking by speculators but a rebound in the Asian region restricted the losses.

 

Meanwhile, crude oil for delivery in October gained 46 cents to $97.08 a barrel on the New York Mercantile Exchange.