Comments
Crude oil futures prices fell further by 0.58 per cent to Rs 6,300 per barrel today, as participants engaged in trimming positions, tracking a weak trend in the Asian region.
On the Multi Commodity Exchange, crude oil for delivery in October fell Rs 37 or 0.58 per cent to Rs 6,300 per barrel in 2,770 lots. Similarly, November contracts shed Rs 32 or 0.5 per cent to Rs 6,335 per barrel in 201 lots.
Analysts said that the fall in crude oil futures was attributed to a weak trend in the Asian trade despite hopes of a breakthrough in the budget impasse in Washington, as dealers focused on a US supply glut.
Meanwhile, West Texas Intermediate (WTI) crude for November delivery was down 28 cents at $102.73 a barrel on the New York Mercantile Exchange in mid-morning trade today.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.