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Crude oil futures fell by Rs 52 to Rs 3,615 per barrel today as speculators reduced positions on profit—taking amid a weakening trend in Asian trade.
Crude oil for delivery in May dropped by Rs 52 or 1.42 per cent to Rs 3,615 per barrel in 708 lots at the Multi Commodity Exchange.
Likewise, oil for delivery in April fell by Rs 52 or 1.40 per cent to Rs 3,507 per barrel in 3,146 lots.
Trading sentiments at futures market were dampened after crude oil prices retreated in Asian trade today on profit—taking following a six—day rally, with rise in OPEC’s output in March also adding to downward pressure, analysts said.
Meanwhile, West Texas Intermediate crude for May delivery eased by 43 cents to USD 56.28 while Brent crude for June fell 48 cents to USD 63.50 a barrel in late—morning trade on the New York Mercantile Exchange.
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