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Crude oil fall by 0.9% on weak Asian cues

Speculators trimmed positions amid a weak trend in the Asian trade

Press Trust of India New Delhi
Crude oil futures prices today fell 0.9% to Rs 3,845 per barrel as speculators trimmed positions amid a weak trend in the Asian trade.

In futures trading, crude oil for delivery in June contracts shed Rs 35, or 0.90%, to Rs 3,845 per barrel in 628 lots at Multi Commodity Exchange.

The oil for May delivery moved down Rs 33, or 0.87%, to Rs 3,757 per barrel in volume of 7,545 lots.

The trading sentiment turned weak in futures trade after oil prices were mixed in Asian trade today, coming under pressure following sharp losses in the previous session owing to continued worries about global oversupply, analysts said.
 

Meanwhile, West Texas Intermediate (WTI) crude oil for June was down eight cents at $58.86 while Brent crude for June gained 7 cents to $65.11 a barrel in late-morning trade on the New York Mercantile Exchange.

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First Published: May 08 2015 | 12:13 PM IST

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