Crude oil futures fell Rs. 15 to Rs. 2,695 per barrel today as traders engaged in trimming positions amid a weak trend in Asian trade.
On the Multi Commodity Exchange, crude oil for delivery in September was trading down by Rs. 15 or 0.55 per cent at Rs. 2,695 per barrel in a business volume of 6,258 lots.
In a similar fashion, the oil for far-month October delivery moved down by Rs. 14 or 0.5 per cent to Rs. 2,778 per barrel in 212 lots.
Analysts attributed the fall in crude oil prices at the futures trade to a weak trend in Asia, where it slid to a fresh six-and-a-half year low today, approaching the key $40 a barrel level, after a surprise rise in US inventories added to concerns of a supply glut.
Meanwhile, West Texas Intermediate (WTI) crude for September delivery, which expires today, dipped 32 cents to $40.48 after falling sharply in New York to its lowest level since March 2009. Brent crude for October contract dropped 25 cents to $46.91 a barrel on the New York Mercantile Exchange.
Crude oil futures fell Rs. 15 to Rs. 2,695 per barrel today as traders engaged in trimming positions amid a weak trend in Asian trade.
On the Multi Commodity Exchange, crude oil for delivery in September was trading down by Rs. 15 or 0.55 per cent at Rs. 2,695 per barrel in a business volume of 6,258 lots.
In a similar fashion, the oil for far-month October delivery moved down by Rs. 14 or 0.5 per cent to Rs. 2,778 per barrel in 212 lots.
Analysts attributed the fall in crude oil prices at the futures trade to a weak trend in Asia, where it slid to a fresh six-and-a-half year low today, approaching the key $40 a barrel level, after a surprise rise in US inventories added to concerns of a supply glut.
Meanwhile, West Texas Intermediate (WTI) crude for September delivery, which expires today, dipped 32 cents to $40.48 after falling sharply in New York to its lowest level since March 2009. Brent crude for October contract dropped 25 cents to $46.91 a barrel on the New York Mercantile Exchange.
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