Crude oil extended its losses at the futures trade today with the prices falling by 0.4 per cent to Rs 6,242 per barrel, as speculators engaged in trimming positions amid a weak trend in Asian trade.
On the Multi Commodity Exchange, crude oil for delivery in August shed Rs 25 or 0.4 per cent to Rs 6,242 per barrel in 3,902 lots. Similarly, September contracts moved down by Rs 23 or 0.37 per cent to trade at Rs 6,207 per barrel in 220 lots.
Analysts attributed the further fall in crude oil at the futures trade to a weak trend in Asian trade on mounting concerns about an economic slowdown in China, with the strong US dollar also putting pressure on prices.
Meanwhile, crude oil for September delivery dropped 57 cents to $104.82 a barrel on the New York Mercantile Exchange.