 "Crude oil down 0.8% on weak Asian cues")
Crude oil futures prices today fell 0.84% to Rs 2,818 per barrel, after speculators reduced exposures amid a weak trend in Asian trade.
At the Multi Commodity Exchange, crude oil for delivery in February fell by Rs 24, or 0.84%, to Rs 2,818 per barrel in 2,486 lots.
Oil for the far-month March delivery moved down by Rs 22, or 0.75%, to Rs 2,893 per barrel with a turnover of 156 lots.
Besides, the release of a US supply report is expected to show a surge in crude stockpiles, they said.
Meanwhile, West Texas Intermediate crude oil for the March delivery fell 75 cents to $45.48, while Brent for March eased 60 cents to $49.00 a barrel in mid-morning trade on the New York Mercantile.
At the Multi Commodity Exchange, crude oil for delivery in February fell by Rs 24, or 0.84%, to Rs 2,818 per barrel in 2,486 lots.
Oil for the far-month March delivery moved down by Rs 22, or 0.75%, to Rs 2,893 per barrel with a turnover of 156 lots.
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The sentiment turned weak in futures trade largely in line with a weak trend in Asia as dealers await the outcome of a US Federal Reserve meeting, analysts said.
Besides, the release of a US supply report is expected to show a surge in crude stockpiles, they said.
Meanwhile, West Texas Intermediate crude oil for the March delivery fell 75 cents to $45.48, while Brent for March eased 60 cents to $49.00 a barrel in mid-morning trade on the New York Mercantile.