Crude oil futures down 0.67 per cent on weak Asian cues

NEW DELHI: Crude oil futures fell 0.67 per cent to Rs 3,541 per barrel today as speculators trimmed positions amid a weakening trend in Asian trade.

Crude oil for delivery in far-month august at the Multi Commodity Exchange traded down Rs 24, or 0.67 per cent, at Rs 3,541 per barrel in 198 lots.

Similarly, oil for July delivery moved down by Rs 23, or 0.65 per cent, to Rs 3,497 per barrel in 4,683 lots.

The trading sentiment eased in futures trade after crude oil prices fell in Asian trade today as investors digested the implications of Greece rejecting tough austerity demands from creditors which could send the debt-strapped nation crashing out of the eurozone, analysts said.

Meanwhile, Greek voters overwhelmingly rejected the bailout terms demanded by international creditors, with official figures from Sunday's referendum showing 61.31 per cent voting "No" and 38.69 per cent voting "Yes".

Meanwhile, West Texas Intermediate (WTI) crude for August delivery plummeted USD 1.88 to USD 55.05 while Brent crude tumbles 50 cents to USD 59.82 a barrel in late-morning Asian trade at the New York Mercantile Exchange.