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Crude oil extended its losses in futures trade today with prices falling by 0.40% to Rs 6,242 per barrel, as speculators engaged in trimming positions amid a weakening trend in Asian trade.
At the Multi Commodity Exchange, crude oil for delivery in August shed Rs 25, or 0.40%, to Rs 6,242 per barrel in 3,902 lots.
In a likewise manner, oil for September delivery moved down by Rs 23, or 0.37%, to trade at Rs 6,207 per barrel in 220 lots.
Analysts attributed further fall in crude oil at futures trade to a weak trend in Asian trade on mounting concerns about an economic slowdown in China, with the strong US dollar also putting pressure on prices.
Meanwhile, crude oil for the September delivery dropped 57 cents to $104.82 a barrel on the New York Mercantile Exchange.
