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Crude oil futures prices moved down by 1.93 per cent to Rs 6,701 per barrel today after speculators reduced their positions amid strengthening rupee.
However, a firm trend in the Asian region after the US Federal Reserve kept its huge monetary stimulus programme for the economy intact, capped the losses.
On the Multi Commodity Exchange, crude oil for delivery in October fell Rs 132 or 1.93 per cent to Rs 6,701 per barrel in 1,813 lots. Similarly, the oil for September delivery shed Rs 108 or 1.58 per cent to Rs 6,715 per barrel in a turnover of 2,340 lots.
Analysts said the fall in crude oil futures was mostly attributed to a rise in the rupee value, making dollar-quoted crude cheaper, but a firm trend in the Asian region limited the losses.
The rupee zoomed 158 paise to trade at over one-month high of 61.80 against the dollar in early trade.
Meanwhile, West Texas Intermediate (WTI) crude for October delivery added 52 cents to $108.59 per barrel on the New York Mercantile Exchange in mid-morning trade today.
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