ET:Crude oil futures down on profit-booking, overseas trend
NEW DELHI: Crude oil prices fell marginally by 0.35 per cent to Rs 5,387 per barrel in futures trade today on profit-booking at prevailing higher levels and a weakening trend overseas.
At the Multi Commodity Exchange, the crude oil for delivery in March fell by Rs 19, or 0.35 per cent, to Rs 5,387 per barrel, with a business turnover of 4,005 lots.
The oil for delivery in April also traded lower by Rs 18, or 0.33 per cent, to Rs 5,436 per barrel, with a business turnover of 385 lots.
Market analysts said apart from profit-booking by speculators after recent gains, a weak trend overseas mainly led to the decline in crude oil prices at futures trade here.
Meanwhile, the crude oil for the March delivery was trading 23 cents lower at USD 109.54 a barrel at the New York Mercantile Exchange.
