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Crude oil futures fell 1.05 per cent to Rs 3,006 per barrel today as speculators started trimming bets amid a weakening trend in Asian trade.
Crude oil for delivery in August at Multi Commodity Exchange was trading lower by Rs 32, or 1.05 per cent, at Rs 3,006 per barrel in 2,853 lots.
Also, oil for September delivery moved down Rs 32, or 1.04 per cent, to Rs 3,053 per barrel in 164 lots.
Analysts said the trading sentiment eased in futures trade after crude prices fell in Asian trade today on persistent concerns about the global supply glut after OPEC’s indication that it will not budge from its current lofty output levels.
US benchmark West Texas Intermediate for September fell 36 cents to USD 46.76 while Brent crude for September eased 42 cents to USD 51.79 in morning trade.
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