Crude oil futures down 0.28 per cent on weak Asian cues
Analysts said fall in prices at futures trade was primarily after it fell in Asian trade
New Delhi: Crude oil futures fell by0.28 per cent to Rs 5,994 per barrel as speculators trimmed positions amid a weak trend in Asian trade.
At the Multi Commodity Exchange, crude oil for delivery in August fell by Rs 7, or 0.28 per cent, to Rs 5,994 per barrel in 2,133 lots. Besides, oil for September delivery moved down by Rs 15, or 0.25 per cent, to Rs 5,981 per barrel in 159 lots. Analysts said the fall in crude prices at futures trade was primarily after it fell in the Asian trade on easing concerns about supply disruptions arising out of conflicts in Ukraine and Iraq.
Meanwhile, West Texas Intermediate crude for September delivery eased 27 cents to USD 97.81, while Brent crude for September was down 22 cents to USD 104.46 a barrel in mid-morning trade on the New York Mercantile Exchange.