Comments
Crude oil futures today fell 0.89 per cent to Rs 3,110 per barrel as speculators trimmed positions amid a weak trend in Asian markets.
Trading sentiment turned weak at the futures trade following fall in crude oil prices in Asian markets on a stronger US dollar and ongoing concern about swelling US inventories that are adding to a global supply glut, analysts said.
On the Multi Commodity Exchange, crude oil for delivery in March shed Rs 28 or 0.89 per cent to Rs 3,110 per barrel in 1,585 lots.
Similarly, the oil for August delivery fell Rs 27 or 0.82 per cent to Rs 3,251 per barrel in a volume of 223 lots.
Meanwhile, West Texas Intermediate (WTI) crude oil was down by 20 cents to $49.41, while Brent shed 39 cents to $59.34 per barrel in late morning trade on the New York Mercantile Exchange.
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.