MUMBAI: Crude oil futures fell in WTI below $ 45.30 per barrel in the Asian trade, hitting lowest level since May 2005. Crude oil futures drowned to three and a half year low level which comes to a more than $100 drop from the all time high struck in July this year.
At present, the counter is trading last seen trading down $ 1.04 at $ 45.76 per barrel. Meanwhile, MCX Crude oil December contract also had a big dive today falling by Rs 102 at Rs 2295 per barrel. Today's low should act as crucial support for the counter.
The crash in the oil prices in last three month has came essentially due to the deep-rooted downturn in the global economic growth, has in turn made the revival paths easier for the central banks.
