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Crude oil futures fell by Rs 35 to Rs 3,296 per barrel today as traders trimmed positions amid a weakening trend in Asian trade.
In futures trading at the Multi Commodity Exchange, crude oil for delivery in July contracts was trading down by Rs 35, or 1.05% at Rs 3,296 per barrel in business volume of 4,223 lots.
In a likewise manner, oil for August delivery moved down by Rs 33, or 0.98%, to Rs 3,347 per barrel in 388 lots.
The trading sentiment eased at futures trade after crude oil prices fell in Asian trade as Iran and major western powers said they were closer than ever to a landmark nuclear deal that would lift sanctions and see Tehran's crude exports return to global markets, analysts said.
Besides, a forecast by the International Energy Agency (IEA) of slower world oil demand next year was also weighing on the market, they added.
Meanwhile, West Texas Intermediate (WTI) crude for August delivery fell 86 cents to $51.88, while Brent crude tumbled 96 cents to $57.55 a barrel on the New York Mercantile Exchange in late-morning trade.
