Crude futures fall on MCX following global trends
Prices of crude oil fell by 0.81 per cent in early trade on the futures market on Monday.
By PTI |
NEW DELHI: Prices of crude oil fell by 0.81 per cent in early trade on the futures market on Monday.
At 1030 hrs, near-month June contract was down by 0.81 per cent at Rs 5,359 per barrel while July contract delivery lost 0.78 per cent at Rs 5,349 per barrel on the Multi Commodity Exchange (MCX), taking cues from Asian trade.
Futures prices on the domestic market witnessed a fall after New York's main oil futures contract, light sweet crude for July delivery, slipped four cents to $127.31 a barrel in morning trade due to negative news on the global economy, oil experts said.
The benchmark contract had closed at $127.35 a barrel on Friday at the New York Mercantile Exchange.
Meanwhile, London's Brent North Sea crude for July delivery gained 13 cents to $127.91 a barrel, after settling at $127.78 a barrel on Friday.
At 1030 hrs, near-month June contract was down by 0.81 per cent at Rs 5,359 per barrel while July contract delivery lost 0.78 per cent at Rs 5,349 per barrel on the Multi Commodity Exchange (MCX), taking cues from Asian trade.
Futures prices on the domestic market witnessed a fall after New York's main oil futures contract, light sweet crude for July delivery, slipped four cents to $127.31 a barrel in morning trade due to negative news on the global economy, oil experts said.
The benchmark contract had closed at $127.35 a barrel on Friday at the New York Mercantile Exchange.
Meanwhile, London's Brent North Sea crude for July delivery gained 13 cents to $127.91 a barrel, after settling at $127.78 a barrel on Friday.
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