Crude Oil Futures Fall On Weak Asian Cues

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Crude oil futures fell by Rs 54 to Rs 4,782 per barrel today as speculators cut down bets amid weak cues from the Asian markets.
At the Multi Commodity Exchange, crude oil for delivery in August was trading lower by Rs 54, or 1.12 per cent, to Rs 4,782 per barrel in 88 lots.
Similarly, crude for delivery in July fell by Rs 47, or 0.96 per cent, to Rs 4,837 per barrel in a business volume of 1,175 lots.
Analysts said trading sentiment remained weak after oil prices fell in Asia on profit-taking amid concerns about supply disruptions eased and Libyan ports resumed export activities, while traders eyed potential supply increases by Russia and other oil producers.
Globally, West Texas Intermediate (WTI) crude oil was down 54 cents, or 0.77 per cent, to USD 69.41 barrel, while Brent too shed 49 cents, or 0.65 per cent to USD 74.84 a barrel on the New York Mercantile Exchange.

SOURCEPTI

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