Crude oil futures down 0.28 per cent on Asian cues

NEW DELHI: Crude oil futures declined by 0.28 per cent to Rs 6,063 per barrel today after speculators trimmed positions largely in tandem with a weak Asian trend.

At the Multi Commodity Exchange, crude oil for delivery in April shed Rs 17, or 0.28 per cent, to Rs 6,063 per barrel, with a business volume of 3,413 lots.

Oil prices for May delivery also moved down by Rs 14, or 0.23 per cent, to Rs 6,057 per barrel, with a business volume of 125 lots.

Marketmen said the fall in crude oil futures prices was mostly in line with a weakening trend in Asia after rebels agreed to reopen two of the four blockaded oil terminals in eastern Libya.

Meanwhile, West Texas Intermediate crude for delivery in May was down by 26 cents, to USD $100.88 a barrel in mid-morning trade on the New York Mercantile Exchange.