Crude oil futures prices declined 0.24 per cent to Rs 5,383 per barrel today in line with a weak trend in Asia.
At the Multi Commodity Exchange, crude oil for delivery in October shed Rs 13 or 0.24 per cent to Rs 5,383 per barrel with a business volume of 507 lots.
Similarly, the oil for September delivery moved down by Rs 12 or 0.22 per cent to Rs 5,350 per barrel with a turnover of 9,811 lots.
Marketmen said the fall in crude oil futures prices was due to a weak trend in Asian trade as call by the Group of Seven nations for oil producers to increase output, interrupted a crude rally fuelled by US production facility closures due to Hurricane Isaac.
Meanwhile, crude oil for delivery in October was down 37 cents at $95.96 a barrel 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.