Crude oil extends futures trade losses on international cues
24 Oct 2013 5:45 AM IST
Crude oil prices moved down further by 0.40 per cent to Rs 6,035 per barrel in futures trade on Wednesday as participants engaged in trimming positions, taking weak cues from overseas markets.
At the Multi Commodity Exchange, crude oil for delivery in November fell by Rs 24, or 0.40 per cent, to Rs 6,035 per barrel in business turnover of 1,006 lots.
In a similar fashion, the oil for delivery in December traded lower by Rs 23, or 0.38 per cent, to Rs 6,079 per barrel in 84 lots. Analysts said persistent fall in crude oil futures was attributed to a weak trend in overseas markets as dealers focused on rising stockpiles that indicate weak demand in the US, world’s biggest economy.
At the Multi Commodity Exchange, crude oil for delivery in November fell by Rs 24, or 0.40 per cent, to Rs 6,035 per barrel in business turnover of 1,006 lots.
In a similar fashion, the oil for delivery in December traded lower by Rs 23, or 0.38 per cent, to Rs 6,079 per barrel in 84 lots. Analysts said persistent fall in crude oil futures was attributed to a weak trend in overseas markets as dealers focused on rising stockpiles that indicate weak demand in the US, world’s biggest economy.
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