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Crude oil futures prices fell further by 0.33 per cent to Rs 7,195 per barrel today, as speculators engaged in reducing positions, taking weak cues from Asian trade as fears receded of an immediate US intervention in Syria.
On the Multi Commodity Exchange, crude oil for delivery in October shed Rs 24 or 0.33 per cent to Rs 7,195 per barrel in 68 lots. Similarly, the oil for delivery in September traded lower by Rs 22 or 0.31 per cent at Rs 7,174 per barrel in 739 lots.
Analysts said persistent fall in crude oil prices at the futures trade was attributed to a weak trend in the Asian trade on receding fears of an immediate US intervention in Syria but upbeat global economic data capped the losses.
Meanwhile, West Texas Intermediate (WTI) crude for October delivery was down $1.01 at $106.64 a barrel on the New York Mercantile Exchange in mid-morning trade.
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