Business Standard

Crude oil down on weak Asian cues

Asian trade was slim after weak Chinese data

Image

Press Trust of India New Delhi

Crude oil futures prices today fell by 0.60% to Rs 5,151 per barrel as speculators trimmed positions amid a weakening trend in the Asian trade.

Asian trade was slim after weaker-than-expected Chinese economic growth data released today kept marksmen away from taking new positions.

At the MCX, crude oil for delivery in May shed Rs 31, or 0.60%, to Rs 5,151 per barrel, with an open interest of 6,371 lots.

The june contract moved down by Rs 30, or 0.57%, to Rs 5,196 per barrel, with an open interest of 738 lots.

Meanwhile, crude oil shed 94 cents to $96.14 a barrel on the New York Mercantile Exchange.

 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: May 11 2012 | 5:35 PM IST

Explore News