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Crude oil futures prices fell 0.53 per cent to Rs 6,002 per barrel today as speculators trimmed their positions despite a firm trend in Asian trade.
On the Multi Commodity Exchange, crude oil for delivery in December fell Rs 32 or 0.53 per cent to Rs 6,002 per barrel in 854 lots.
Similarly, the oil for delivery in January moved down by Rs 30 or 0.49 per cent to Rs 6,059 per barrel in 80 lots.
Market analysts said trimming of positions by speculators mainly put pressure on crude oil at the futures trade. But a firm trend in Asian trade, as investors focused on the US Federal Reserve’s policy meeting this week for clues about its long-awaited stimulus pullback, capped the losses.
Globally, crude oil for January delivery was up 4 cents at $96.66 a barrel on the New York Mercantile Exchange in mid-morning trade today.
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