Commodities

Crude oil futures decline on weak Asian cues

PTI New Delhi | Updated on July 23, 2014

Crude oil futures fell 0.41 per cent to Rs 6,129 per barrel today as speculators trimmed positions amid a weakening trend in Asian trade.

At the Multi Commodity Exchange, crude oil for delivery in September shed Rs 25, or 0.41 per cent, to Rs 6,129 per barrel in 101 lots.

In a likewise manner, the oil for August delivery moved down by Rs 23, or 0.37 per cent, to Rs 6,158 per barrel in 23 lots.

The trading sentiment eased at futures trade after crude oil prices fell in Asian trade as concerns over the geopolitical fallout from the downing of flight MH17 in Ukraine eased, analysts said.

Meanwhile, West Texas Intermediate (WTI) crude for September delivery declined 34 cents to USD 102.05 while Brent crude for September declined 10 cents to USD 107.23 a barrel at the New York Mercantile Exchange in late morning trade today.

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Published on July 23, 2014
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