Crude oil prices fell by 1.42 per cent to Rs. 4,088 per barrel in futures trade on Wednesday, tracking a weak trend overseas on speculations that slowing global growth may curb its demand.
At the Multi Commodity Exchange, crude oil for delivery in November fell by Rs. 59, or 1.42 per cent, to Rs. 4,088 per barrel, with a trading volume of 1,248 lots.
Similarly, the oil for delivery in October lost Rs. 54, or 1.31 per cent, to Rs. 4,060 per barrel, with a turnover of 18,894 lots.
Analysts said the fall in crude oil prices in futures trade was mostly in line with a weak trend in Asian markets on speculations that slowing global growth that may curb fuel demand amid rising US supplies.
Meanwhile, New York's main contract crude for October delivery fell by $1.59 to $82.86 a barrel in the Asian region on Wednesday.
Read more at: http://profit.ndtv.com/news/show/crude-oil-down-in-trade-on-weak-overseas-cues-180431?cp
