Crude oil down by 1.2% on weak Asian trend
Speculators trimmed positions amid a weakening trend in Asian trade
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Crude oil futures fell 1.24% to Rs 2,789 per barrel today as speculators trimmed positions amid a weakening trend in Asian trade.
At Multi Commodity Exchange, crude oil for delivery in August traded Rs 35, or 1.24%, to Rs 2,789 per barrel in 5,333 lots.
Oil for September delivery moved down Rs 32, or 1.11%, to Rs 2,843 per barrel in 392 lots.
The trading sentiment eased in futures trade as crude oil fell in Asian trade today, extending weeks of losses after a US report stoked expectations of a global glut of supplies, analysts said.
Meanwhile, West Texas Intermediate (WTI) crude for September delivery was down 30 cents at $43.57, its lowest close since March 17. Brent crude for Septmber eased 36 cents to $48.25 a barrel on the New York Mercantile Exchange.
At Multi Commodity Exchange, crude oil for delivery in August traded Rs 35, or 1.24%, to Rs 2,789 per barrel in 5,333 lots.
Oil for September delivery moved down Rs 32, or 1.11%, to Rs 2,843 per barrel in 392 lots.
The trading sentiment eased in futures trade as crude oil fell in Asian trade today, extending weeks of losses after a US report stoked expectations of a global glut of supplies, analysts said.
Meanwhile, West Texas Intermediate (WTI) crude for September delivery was down 30 cents at $43.57, its lowest close since March 17. Brent crude for Septmber eased 36 cents to $48.25 a barrel on the New York Mercantile Exchange.
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First Published: Aug 10 2015 | 11:13 AM IST