Crude oil futures fell by Rs. 58 to Rs. 3,052 per barrel today as speculators reduced bets amid a weakening trend in Asian trade.
At Multi Commodity Exchange, crude for delivery in September dropped Rs. 58, or 1.86 per cent, to Rs. 3,052 per barrel in 11,427 lots.
Similarly, oil for far-month October delivery moved down Rs. 51, or 1.61 per cent, to Rs. 3,118 per barrel in 421 lots.
The trading sentiment turned sour after crude oil prices eased in Asian trade today as dealers await the US Federal Reserve’s decision on whether to raise interest rate following a mixed August jobs report, analysts said.
The US Labour Department last week said the economy added 1,73,000 jobs in August, fewer than estimated.
Meanwhile, West Texas Intermediate (WTI) crude for October fell 35 cents to USD 45.70 while Brent crude for October down 38 cents to USD 49.23 per barrel in mid—morning trade on the New York Mercantile Exchange.
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