Crude oil futures down 0.62 per cent on weak Asian cues

NEW DELHI: Crude oil futures eased by 0.62 per cent to Rs 6,243 per barrel today after speculators trimmed positions in tandem with a weak trend in Asian trade.

At the Multi Commodity Exchange, crude oil for delivery in April shed Rs 39, or 0.62 per cent, to Rs 6,243 per barrel, with a business volume of 1,498 lots.

Oil prices for May delivery also moved down by Rs 34 , or 0.54 per cent, to Rs 6,230 per barrel, with a business volume of 185 lots.

Marketmen said the fall in crude oil futures prices was mostly in line with a weakening trend in Asia but losses were limited as Russia-Ukrain tensions showed no signs of abating, raising fears of a disruption to energy supplies to Western Europe.

Meanwhile, West Texas Intermediate crude oil for delivery in May was down 72 cents, to USD 103.33 a barrel on the New York Mercantile Exchange.