Comments
Crude oil prices fell 0.61 per cent at the futures trade today as speculators offloaded their positions in tandem with a weakening global trend.
At the Multi Commodity Exchange, oil for delivery in January moved down by Rs 33 or 0.61 per cent to Rs 5,333 per barrel with a trading volume of 11,453 lots. In a similar fashion, crude for February contract delivery shed Rs 32 or 0.59 per cent to Rs 5,357 per barrel in 927 lots.
Marketmen said the trading sentiment turned bearish after crude oil dropped in Asian trade on concerns that the European debt crisis could worsen, reducing the demand.
New York’s main contract, West Texas Intermediate for delivery in February, was down 49 cents to $ 101.07 in the morning trade, while Brent North Sea crude for February delivery declined by 11 cents to $112.95 per barrel.
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.