Crude oil futures down on weak Asian cues
Crude oil futures prices Monday eased by 0.13 per cent to Rs 6,356 per barrel, as speculators trimmed positions amidst a weak trend in the Asian trade.
New Delhi: Crude oil futures prices Monday eased by 0.13 per cent to Rs 6,356 per barrel, as speculators trimmed positions amidst a weak trend in the Asian trade.
At the Multi Commodity Exchange, crude oil for delivery in July shed Rs 8, or 0.13 per cent, to Rs 6,356 per barrel in 525 lots.
The oil for August delivery moved down by a similar margin to trade at Rs 6,347 per barrel in a volume of 15 lots.
The trading sentiment turned weak in futures trade after oil prices eased in Asia on softer US demand.
However, tensions in the Middle East where the rebels have declared an Islamic state in some areas straddling Iraq and Syria, is likely to keep prices high, analysts said.
Meanwhile, West Texas Intermediate (WTI) crude oil for August delivery was down 26 cents at USD 105.48 a barrel, while Brent North Sea crude eased 22 cents to USD 113.08 per barrel on the New York Mercantile Exchange.