Crude oil futures fell Rs 17 to Rs 3,718 per barrel today as speculators reduced bets amid a weak trend in Asian trade.
On the Multi Commodity Exchange, crude for delivery in July dropped Rs 17 or 0.46 per cent to Rs 3,718 per barrel in 1,949 lots.
Similarly, the oil for August delivery moved down by Rs 17 or 0.45 per cent to Rs 3,763 per barrel in 76 lots.
Trading sentiment turned sour after crude oil prices extended losses in Asia today on concerns that Greece may miss a key debt repayment later in the day and edge closer to a euro zone exit, analysts said.
Meanwhile, West Texas Intermediate (WTI) crude for August delivery fell 23 cents to $58.10, while Brent crude for August delivery eased 15 cents to $61.86 per barrel in late-morning trade on the New York Mercantile Exchange.
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.