Crude oil futures prices declined 0.84 per cent to Rs 5,050 per barrel today largely in tandem with a weakening trend in Asian trade on worsening European debt crisis.

At the Multi Commodity Exchange, crude oil for delivery in August shed Rs 43 or 0.84 per cent to Rs 5,050 per barrel with a business volume of 5,129 lots.

Similarly, the oil for September delivery moved down by Rs 41 or 0.8 per cent to Rs 5,092 per barrel with a turnover of 326 lots.

Marketmen said the fall in crude oil futures prices was mostly in line with a weakening trend in Asian trade on concerns over Spain’s borrowing costs and the fate of the Euro Zone.

Meanwhile, crude oil for delivery in September sank $1.13 to $90.70 a barrel on the New York Mercantile Exchange.

(This article was published on July 23, 2012)
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