NEW DELHI: Crude oil futures today plunged by 1.56 per cent to Rs 6,431 per barrel, as speculators engaged in offloading positions amid a weakening trend in Asian trade on concerns over US budget impasse.
At the Multi Commodity Exchange, crude oil for delivery in October traded Rs 102,or 1.56 per cent lower at Rs 6,431 per barrel in 3,846 lots.
In a likewise manner, oil for November delivery moved down by Rs 101, or 1.54 per cent, to Rs 6,449 per barrel in 288 lots.
Analysts said the trading sentiment dampened at futures trade in line with a weak trend in Asian trade on concern that the US government is headed for a shutdown over a budget stalemate that would reduce demand in the world's largest oil consumer.
Meanwhile, West Texas Intermediate (WTI) crude for November delivery was down USD 1.16-101.71 a barrel on the New York Mercantile Exchange in mid-morning trade today.
