Crude oil futures prices eased 0.4 per cent to Rs 6,421 per barrel today, as speculators trimmed their positions amid a weak trend in the Asian trade as US crude stockpiles surged.
On the Multi Commodity Exchange, crude oil for delivery in November fell Rs 26 or 0.4 per cent to Rs 6,421 per barrel in 169 lots. Similarly, October contracts moved down by Rs 24 or 0.37 per cent to Rs 6,408 per barrel in 2,808 lots.
Analysts said the fall in crude oil futures was largely in line with a weak trend in the Asian trade after an unexpected surge in US crude stockpiles and fresh signs of warming relations between the West and crude producer Iran.
Meanwhile, West Texas Intermediate (WTI) crude for November delivery was down 36 cents at $102.30 a barrel on the New York Mercantile Exchange in mid-morning trade today.