Business Standard

Crude oil down by 0.4% on weak Asian cues

Speculators trimmed positions amid a weakening trend in the Asian trade on weak Chinese manufacturing data

Press Trust of India New Delhi
Crude oil futures prices today fell by 0.35% to Rs 6,324 per barrel, as speculators trimmed positions amid a weakening trend in the Asian trade on weak Chinese manufacturing data.
 
At the Multi Commodity Exchange, crude oil for delivery in September shed Rs 22, or 0.35%, to Rs 6,324 per barrel in 146 lots.
 
In a likewise manner, oil for the month of August moved down by Rs 21, or 0.33%, to Rs 6,372 per barrel in 1,942 lots.
 
The trading sentiment eased at futures trade as crude oil prices slipped in Asian as weak Chinese manufacturing activity in July fuelled concerns over energy demand in the world's second biggest economy, analysts said.
 
 
Meanwhile, West Texas Intermediate (WTI) crude for September delivery dropped 27 cents to $106.96 a barrel on the New York Mercantile Exchange in morning trade today.

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First Published: Jul 24 2013 | 11:23 AM IST

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