Crude oil futures prices fell 0.76 per cent to ₹ 6,122 per barrel today after speculators indulged in reducing their positions triggered by weak Chinese data.
Trading sentiment turned weak at the futures trade after crude oil prices declined in Asian trade as data showing weak Chinese manufacturing activity fuelled concerns over energy demand in the world’s second largest economy, marketmen said.
On the Multi Commodity Exchange, crude oil for delivery in February fell ₹ 47 or 0.76 per cent to ₹ 6,122 per barrel in 1,749 lots. Similarly, the oil for March delivery moved down by ₹ 39 or 0.63 per cent to ₹ 6,120 per barrel in 140 lots.
Meanwhile, crude oil for March delivery eased 51 cents at $96.98 a barrel on the New York Mercantile Exchange in mid-morning trade today.