Commodities

Crude oil futures dip to Rs 5,193 per barrel

PTI New Delhi | Updated on October 13, 2014 Published on October 13, 2014

Crude oil futures dipped 1.72 per cent to Rs 5,193 per barrel today after speculators reduced exposures amid a weak trend in Asian trade.

On the Multi Commodity Exchange, crude oil for delivery in October fell Rs 91 or 1.72 per cent to Rs 5,193 per barrel in 2,591 lots.

Similarly, the oil for November delivery moved down by Rs 84 or 1.58 per cent to Rs 5,184 per barrel with a turnover of 230 lots.

Sentiment turned weak at the futures trade, largely in line with a weak trend in Asian markets, on growing concerns about demand as equities tumbled on global growth woes and increase in supplies, analysts said.

Meanwhile, West Texas Intermediate crude oil for November delivery shed 94 cents to $84.87 a barrel, which is weakest in the last two years.

Likewise, Brent crude lost 96 cents to a four-year low of $89.25 in mid-morning trade on the New York Mercantile Exchange.

Published on October 13, 2014
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