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Crude oil futures dived 1.45 per cent to Rs 2,717 per barrel today as speculators remaining engaged in offloading positions amid a weakening trend in Asian trade.
At the Multi Commodity Exchange, crude oil for delivery in far-month October traded Rs 40, or 1.45 per cent lower at Rs 2,717 per barrel in 135 lots.
Oil for September delivery also moved down Rs 37, or 1.38 per cent, to Rs 2,647 per barrel in 2,832 lots.
The trading sentiment dampened in futures trade as crude oil dived in Asia today, with US oil hovering below the key USD 40 a barrel mark amid deepening concerns about weak Chinese economic growth and global oversupply, analysts said.
Meanwhile, West Texas Intermediate (WTI) crude for October delivery was down USD 1.04 to USD 39.41 while Brent crude for October eased 91 cents to USD 44.55 a barrel in late—morning trade on the New York Mercantile Exchange.
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