Crude oil sheds 0.25% on MCX on weak global cues

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Crude oil sheds 0.25% on MCX on weak global cues
Press Trust of India / New Delhi Feb 06, 2012, 13:01

Comments

Crude oil prices fell by Rs 13 to Rs 4,796 per barrel in futures trade today as speculators offloaded their positions following weak global trend.

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At the Multi Commodity Exchange, March crude fell by Rs 13, or 0.27% to Rs 4,796 per barrel in business turnover of 1,049 lots.

The February contract lost Rs 12, or 0.25% to Rs 4755 per barrel in 12,768 lots.

Analysts said speculators offloaed their positions on the back of weakening global trend mainly led to the fall in crude oil prices at futures market.

Meanwhile, crude oil for March delivery slid 78 cents to $97.06 a barrel on the New York Mercantile Exchange.