Crude oil futures sharply down on weak Asian cues

Crude oil futures fell by 1.82 per cent to Rs 5,569 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 September traded Rs 103, or 1.82 per cent, to Rs 5,569 per barrel in 4,546 lots.
In a likewise manner, oil for October delivery moved down by Rs 97, or 1.72 per cent, to Rs 5,556 per barrel in 643 lots.
The trading sentiment eased at futures trade after crude oil prices fell in Asian trade today after a sharp slowdown in Chinese industrial production raised concerns about slackening demand in the world's top energy consumer, analysts said.

Meanwhile, West Texas Intermediate (WTI) crude for October delivery eased USD 1.06 to USD 91.21, while Brent crude for October fell 63 cents to USD 96.48 a barrel on the New York Mercantile Exchange in mid-morning trade.