Crude Oil Futures Down 0.37 Pc On Weak Asian Trend

Crude oil futures eased 0.37 per cent to Rs 4,591 per barrel today as speculators reduced their positions amid a weakening trend in Asian markets.
At the Multi Commodity Exchange, crude oil for delivery in far-month August traded Rs 17 or 0.37 per cent lower at Rs 4,591 per barrel in 23 lots.
Oil for July delivery also moved down by Rs 8, or 0.17 per cent, to Rs 4,664 per barrel in 748 lots.
Oil prices fell in Asia today as traders factored in an expected output increase that was agreed by the Organization of the Petroleum Exporting Countries (OPEC) in Vienna on Friday, analysts said.
Meanwhile, West Texas Intermediate (WTI) crude was down 20 cents, or 0.29 per cent, to USD 68.38, while Brent crude eased USD 1.33, or 1.76 per cent, to USD 74.22 a barrel on the New York Mercantile Exchange.



Please enter your comment!
Please enter your name here