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Crude oil futures slipped Rs 52 to Rs 3,763 per barrel today, in line with a weak trend in Asian trade, as traders cut down their exposure.
Crude oil for delivery in July was trading lower by Rs 52 or 1.36 per cent at Rs 3,763 per barrel with a business volume of 2,652 lots on the Multi Commodity Exchange (MCX).
Also, oil prices for August delivery moved down by Rs 47 or 1.22 per cent to trade at Rs 3,811 per barrel with a business volume of 94 lots.
Analysts said the fall in crude oil futures is mostly in step with a sluggish trend in Asian trade, tracking the sell-off in global equity markets on fears of a Greek debt default.
US benchmark West Texas Intermediate crude for August delivery fell 82 cents to $58.81, while Brent crude for August delivery eased 70 cents to $62.56 in late-morning trade as dealers turned jittery over a collapse in Greece’s debt talks and a possible return of Iranian supplies disrupted by global sanctions.
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