Commodities

Crude oil futures slump to Rs 5,913 per barrel

| | Updated on: Nov 25, 2013

Crude oil futures prices fell 1.32 per cent to Rs 5,913 per barrel today, as speculators trimmed positions amid a weakening trend in the Asian trade.

On the Multi Commodity Exchange, crude oil for delivery in December fell Rs 79 or 1.32 per cent to Rs 5,913 per barrel in 1,772 lots.

Similarly, the oil for delivery in January moved down by Rs 76 or 0.78 per cent to Rs 5,977 per barrel in 78 lots.

Trading sentiment turned weak at the futures trade after crude oil prices fell sharply in the Asian markets following a key deal between world powers and Iran on its controversial nuclear programme, analysts said.

Meanwhile, Brent North Sea crude, the European benchmark, for January delivery fell $2.48 or 2.23 per cent in early Asian trade to USD 108.57.

New York’s main contract, West Texas Intermediate (WTI) crude for January contract, was down 84 cents or about one per cent at $94 in mid-morning trade.

Published on March 13, 2018

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