Crude oil futures prices declined 0.24 per cent to Rs 5,383 per barrel today in line with a weak trend in Asia.

At the Multi Commodity Exchange, crude oil for delivery in October shed Rs 13 or 0.24 per cent to Rs 5,383 per barrel with a business volume of 507 lots.

Similarly, the oil for September delivery moved down by Rs 12 or 0.22 per cent to Rs 5,350 per barrel with a turnover of 9,811 lots.

Marketmen said the fall in crude oil futures prices was due to a weak trend in Asian trade as call by the Group of Seven nations for oil producers to increase output, interrupted a crude rally fuelled by US production facility closures due to Hurricane Isaac.

Meanwhile, crude oil for delivery in October was down 37 cents at $95.96 a barrel on the New York Mercantile Exchange.

(This article was published on August 29, 2012)
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