Crude oil down by 0.4% on weak Asian cues
Speculators cut down bets amid a weak trend in Asian trade
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Crude oil futures today fell 0.42% to Rs 3,070 per barrel as speculators cut down bets amid a weak trend in Asian trade.
At the Multi Commodity Exchange, crude oil for delivery in August contracts was trading down by Rs 13, or 0.42% at Rs 3,070 per barrel in a business turnover of 4,976 lots.
The oil for September delivery moved down Rs 12, or 0.38% to Rs 3,117 per barrel in 358 lots.
Analysts said the fall in crude prices in futures trade was mostly in tune with a weak trend in Asian trade as investors waited for the results of a US Fed Reserve meeting and a closely-watched report on crude inventories in the world's biggest economy.
Meanwhile, West Texas Intermediate crude for September delivery fell nine cents to $47.89 and Brent for September was down 12 cents to $53.18 a barrel in late-morning trade at the New York Mercantile Exchange.
At the Multi Commodity Exchange, crude oil for delivery in August contracts was trading down by Rs 13, or 0.42% at Rs 3,070 per barrel in a business turnover of 4,976 lots.
The oil for September delivery moved down Rs 12, or 0.38% to Rs 3,117 per barrel in 358 lots.
Analysts said the fall in crude prices in futures trade was mostly in tune with a weak trend in Asian trade as investors waited for the results of a US Fed Reserve meeting and a closely-watched report on crude inventories in the world's biggest economy.
Meanwhile, West Texas Intermediate crude for September delivery fell nine cents to $47.89 and Brent for September was down 12 cents to $53.18 a barrel in late-morning trade at the New York Mercantile Exchange.
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First Published: Jul 29 2015 | 12:57 PM IST