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Crude oil futures today fell 0.54 per cent to Rs 3,874 per barrel as speculators cut down bets amid a weak trend in Asian trade.
On the Multi Commodity Exchange, crude oil for delivery in June was trading down by Rs 21 or 0.54 per cent at Rs 3,874 per barrel in a business turnover of 1,315 lots.
Besides, the oil for July delivery moved down by Rs 20 or 0.51 per cent to Rs 3,925 per barrel in 66 lots.
The fall in crude oil futures was primarily because of a stronger dollar as traders were concerned about Greece’s troubled debt negotiations, while the International Energy Agency’s prediction of demand softening added to the downward pressure, analysts said.
Meanwhile, West Texas Intermediate crude for July delivery eased 22 cents to $60.55, while Brent crude for July was down 16 cents at $64.95 a barrel in late-morning trade on the New York Mercantile Exchange.
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