Commodities

Crude oil futures plunge to Rs 2,990 per barrel

PTI New Delhi | Updated on January 22, 2018 Published on September 10, 2015

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Crude oil futures fell sharply by Rs 68 to Rs 2,990 per barrel today as speculators reduced bets amid a weak trend in Asian trade.

At the Multi Commodity Exchange, crude oil for delivery in October dropped Rs 68 or 2.22 per cent to Rs 2,990 per barrel in 187 lots.

Similarly, the oil for September delivery was trading 53 or 2.11 per cent down at Rs 2,926 per barrel in 1,807 lots.

Analysts said the fall in crude oil futures is mostly in step with a sluggish trend in Asian trade as dealers focused on an upcoming US energy report for clues about production and demand in the world’s top crude consumer amid abundant global supplies.

Meanwhile, US benchmark West Texas Intermediate for October delivery fell 65 cents to $43.50, while Brent crude for October delivery dropped 76 cents to $46.82 in late-morning trade.

Published on September 10, 2015
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