Crude oil futures down by 0.84 per cent on weak Asian cues

NEW DELHI: Crude oil futures prices today fell by 0.84 per cent to Rs 5,996 per barrel, as speculators trimmed positions amidst a weak trend in the Asian trade.

At the Multi Commodity Exchange, crude oil for delivery in September shed Rs 51, or 0.84 per cent, to Rs 5,996 per barrel in 176 lots.

The oil for August delivery moved down by Rs 50, or 0.82 per cent, to Rs 6,024 per barrel in volume of 1,868 lots.

The trading sentiment turned weak in futures trade after oil prices tumbled further in Asia as concerns eased that fresh Western sanctions on Russia over Ukraine would have an immediate impact on global oil supplies, analysts said.

Meanwhile, West Texas Intermediate (WTI) crude oil for September was down 66 cents at $99.61 a barrel, while Brent North Sea crude eased 29 cents to $106.22 per barrel in mid-morning trade on the New York Mercantile Exchange.