Crude oil futures down 0.5% on weak Asian cues
Prices dipped as speculators reduced exposures
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Crude oil futures prices today fell by 0.48% to Rs 5,135 per barrel, after speculators reduced exposures amid weak trend in Asian trade.
At the Multi Commodity Exchange (MCX), the May contract fell by Rs 25, or 0.48%, to Rs 5,135 per barrel in 8,372 lots.
The June contract moved down by Rs 24, or 0.46% to Rs 5,165 per barrel in a turnover of 1,618 lots.
The trading sentiment turned weak at futures trade as crude prices declined in Asian trade as caution returned to the market following weak US production data, analysts said.
Meanwhile, crude oil for the June delivery dropped 33 cents to $ 93.97 a barrel on the New York Mercantile Exchange (NYMEX).
At the Multi Commodity Exchange (MCX), the May contract fell by Rs 25, or 0.48%, to Rs 5,135 per barrel in 8,372 lots.
The June contract moved down by Rs 24, or 0.46% to Rs 5,165 per barrel in a turnover of 1,618 lots.
The trading sentiment turned weak at futures trade as crude prices declined in Asian trade as caution returned to the market following weak US production data, analysts said.
Meanwhile, crude oil for the June delivery dropped 33 cents to $ 93.97 a barrel on the New York Mercantile Exchange (NYMEX).
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First Published: May 16 2013 | 2:23 PM IST