 "Crude oil down by 0.5% on weak Asian cues")
Crude oil futures today fell 0.54% to Rs 3,874 per barrel as speculators cut down bets amid a weak trend in Asian trade.
At Multi Commodity Exchange, crude oil for delivery in June contracts was trading down by Rs 21, or 0.54%, at Rs 3,874 per barrel in a business turnover of 1,315 lots.
Besides, oil for July delivery moved down Rs 20, or 0.51%, to Rs 3,925 per barrel in 66 lots.
Meanwhile, West Texas Intermediate crude for July delivery eased 22 cents to $60.55 while Brent for July was down 16 cents to $64.95 a barrel in late-morning trade at the New York Mercantile Exchange.
At Multi Commodity Exchange, crude oil for delivery in June contracts was trading down by Rs 21, or 0.54%, at Rs 3,874 per barrel in a business turnover of 1,315 lots.
Besides, oil for July delivery moved down Rs 20, or 0.51%, to Rs 3,925 per barrel in 66 lots.
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The fall in crude prices in futures trade was primarily because of a stronger dollar as traders were concerned about Greece's troubled debt negotiations while the International Energy Agency's prediction of demand softening added to the downward pressure, analysts said.
Meanwhile, West Texas Intermediate crude for July delivery eased 22 cents to $60.55 while Brent for July was down 16 cents to $64.95 a barrel in late-morning trade at the New York Mercantile Exchange.