Crude oil futures prices dipped 2.69 per cent to Rs 6,735 per barrel today, as speculators trimmed positions amid a weak trend in Asian trade.
On the Multi Commodity Exchange, crude oil for delivery in September fell Rs 186 or 2.69 per cent to Rs 6,735 per barrel in 8,496 lots. Similarly, the oil for delivery in October moved down by Rs 186 or 2.68 per cent to Rs 6,750 per barrel in 927 lots.
Trading sentiment eased at the futures trade as crude oil fell after a US-Russia deal on Syria’s chemical weapons averted a potential Western military strike on the Assad regime, analysts said.
Meanwhile, West Texas Intermediate (WTI) crude for October delivery eased 82 cents to $107.39 a barrel on the New York Mercantile Exchange today.