 "Crude oil down by 3.6% on weak Asian cues")
Crude oil futures fell by Rs 113 to Rs 3,039 per barrel today as speculators trimmed positions amid a weakening trend in Asian trade after a sharp slowdown in Chinese industrial production.
At the Multi Commodity Exchange, crude oil for delivery in April traded Rs 113, or 3.59%, to Rs 3,039 per barrel in 4,085 lots.
Oil for May delivery moved down by Rs 109, or 3.33%, to Rs 3,163 per barrel in 293 lots.
Meanwhile, West Texas Intermediate (WTI) crude for May delivery eased 71 cents to $48.16, while Brent crude for May fell 33 cents to $56.06 a barrel on the New York Mercantile Exchange in late-morning trade.
At the Multi Commodity Exchange, crude oil for delivery in April traded Rs 113, or 3.59%, to Rs 3,039 per barrel in 4,085 lots.
Oil for May delivery moved down by Rs 109, or 3.33%, to Rs 3,163 per barrel in 293 lots.
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The trading sentiment eased at futures trade after crude oil prices eased in Asian trade today but analysts said losses were tempered by supply concerns in the crude-rich Middle East after Saudi-led warplanes struck rebel targets in Yemen.
Meanwhile, West Texas Intermediate (WTI) crude for May delivery eased 71 cents to $48.16, while Brent crude for May fell 33 cents to $56.06 a barrel on the New York Mercantile Exchange in late-morning trade.