Crude oil down by 1.4% on weak Asian trend
Speculators remaining engaged in offloading positions amid a weakening trend in Asian trade
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Crude oil futures dived 1.45% to Rs 2,717 per barrel today as speculators remaining engaged in offloading positions amid a weakening trend in Asian trade.
At Multi Commodity Exchange, crude oil for delivery in far-month October traded Rs 40, or 1.45% lower at Rs 2,717 per barrel in 135 lots.
Oil for September delivery also moved down Rs 37, or 1.38%, to Rs 2,647 per barrel in 2,832 lots.
The trading sentiment dampened in futures trade as crude oil dived in Asia today, with US oil hovering below the key $40 a barrel mark amid deepening concerns about weak Chinese economic growth and global oversupply, analysts said.
Meanwhile, West Texas Intermediate (WTI) crude for October delivery was down $1.04 to $39.41 while Brent crude for October eased 91 cents to $44.55 a barrel in late-morning trade on the New York Mercantile Exchange.
At Multi Commodity Exchange, crude oil for delivery in far-month October traded Rs 40, or 1.45% lower at Rs 2,717 per barrel in 135 lots.
Oil for September delivery also moved down Rs 37, or 1.38%, to Rs 2,647 per barrel in 2,832 lots.
The trading sentiment dampened in futures trade as crude oil dived in Asia today, with US oil hovering below the key $40 a barrel mark amid deepening concerns about weak Chinese economic growth and global oversupply, analysts said.
Meanwhile, West Texas Intermediate (WTI) crude for October delivery was down $1.04 to $39.41 while Brent crude for October eased 91 cents to $44.55 a barrel in late-morning trade on the New York Mercantile Exchange.
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First Published: Aug 24 2015 | 11:22 AM IST