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Crude oil futures today fell 0.42 per cent to Rs 3,070 per barrel as speculators cut down bets amid a weak trend in Asian trade.
On the Multi Commodity Exchange, crude oil for delivery in August was trading down by Rs 13 or 0.42 per cent at Rs 3,070 per barrel in a business turnover of 4,976 lots.
The oil for September delivery moved down Rs 12 or 0.38 per cent to Rs 3,117 per barrel in 358 lots.
Analysts said the fall in crude oil prices at the futures trade was mostly in tune with a weak trend in Asian trade as investors waited for the results of a US Fed Reserve meeting and a closely-watched report on crude inventories in the world’s biggest economy.
Meanwhile, West Texas Intermediate crude for September delivery fell nine cents to $47.89 and Brent crude for September delivery was down 12 cents at $53.18 a barrel in late-morning trade on the New York Mercantile Exchange.
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