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Crude oil futures down on profit-booking

Crude oil futures prices fell by 0.55 per cent to Rs 5,245 per barrel today as speculators booked profits.

Crude oil futures prices fell by 0.55 per cent to Rs 5,245 per barrel today as speculators booked profits.

However,a firming trend in Asian trade capped the losses.

At the Multi Commodity Exchange,crude oil for delivery in September shed Rs 29,or 0.55 per cent,to Rs 5,245 per barrel,with a business volume of 16,690 lots.

Similarly,the oil for October delivery moved down by Rs 23,or 0.43 per cent,to Rs 5,271 per barrel,with a turnover of 5,574 lots.

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Marketmen said the fall in crude oil futures prices was due to profit-booking by speculators but a rebound in the Asian region restricted the losses.

Meanwhile,crude oil for delivery in October gained 46 cents to USD 97.08 a barrel on the New York Mercantile Exchange.

First published on: 18-09-2012 at 12:03:33 pm
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