Comments
Crude oil futures fell 0.47 per cent to Rs 5,953 per barrel today as speculators trimmed positions amid a weak trend in Asian trade.
On the Multi Commodity Exchange, crude oil for delivery in August fell Rs 28 or 0.47 per cent to Rs 5,953 per barrel in 2,381 lots.
Besides, the oil for September delivery moved down by Rs 26 or 0.44 per cent to Rs 5,940 per barrel in 602 lots.
Analysts said the fall in crude oil prices at the futures trade was due to weak Asian trade, as the International Energy Agency slashed its demand outlook for 2014 and 2015.
Meanwhile, West Texas Intermediate crude for September delivery shed 19 cents to $97.18, while Brent crude for September delivery was down 24 cents at $102.78 a barrel in mid-morning trade on the New York Mercantile Exchange.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.