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Crude oil down on weak Asian cues

US FEd Chaiman temers with hopes of more stimulus for US economy, sending commodities lower

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Press Trust of India New Delhi
Last Updated : Jan 24 2013 | 1:49 AM IST

Crude oil futures prices today fell by 1.60% to Rs 4,619 per barrel as speculators trimmed positions amid a weak trend in the Asian trade.

At the MCx, crude oil for delivery in June shed Rs 75, or 1.60%, to Rs 4,619 per barrel, having a business volume of 8,465 lots.

The July contract moved down by Rs 65, or 1.58%, to Rs 4,661 per barrel, in a turnover of 831 lots.

Marketmen said the fall in crude oil futures prices was mostly attributed to a weakening trend in Asian trade after US Federal Reserve chairman tempered hopes that there would be more stimulus for the US economy.

Meanwhile, crude oil for delivery in July down $2.04 to $82.78 a barrel on the New York Mercantile Exchange.

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First Published: Jun 08 2012 | 12:36 PM IST

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