NEW DELHI: Crude oil futures prices today dipped 2.93 per cent to Rs 7,034 per barrel, as speculators trimmed positions at prevailing levels amid a weakening trend in Asian trade.
At the Multi Commodity Exchange, crude oil for delivery in September fell by Rs 212, or 2.93 per cent, to Rs 7,034 per barrel in 5,843 lots.
In a likewise manner, oil for delivery in October moved down by Rs 202, or 2.78 per cent, to Rs 7,267 per barrel in 436 lots.
The trading sentiment eased at futures trade, as crude oil prices fell in Asian trade after US President Barack Obama's announcement that he would seek approval from lawmakers for military action against Syria eased prospects of an imminent strike, analysts said.
Meanwhile, West Texas Intermediate (WTI) crude for October delivery was down by USD 1.47 at USD 106.18 a barrel on the New York Mercantile Exchange in mid-morning trade today.
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