Crude oil down 0.64% on Asian cues

Weak trend in Asia as Spanish PM played down expectations of an immediate bailout

Crude oil futures declined by 0.64% to Rs 4,829 per barrel today in line with a weak trend in Asian trade.

At the Multi Commodity Exchange, crude oil for delivery in October shed Rs 31, or 0.64%, to Rs 4,829 per barrel, with a business volume of 889 lots.

The November contract moved down by Rs 29, or 0.59%, to Rs 4,860 per barrel, with a turnover of 869 lots.

Marketmen said the fall in crude oil futures prices was in line with a weakening trend in Asia after Spanish Prime Minister played down expectations of an immediate bailout for his struggling country.

 

Meanwhile, crude oil for delivery in November was down 27 cents to $91.62 a barrel on the New York Mercantile Exchange.