Crude oil futures extend losses on weak Asian cues

NEW DELHI: Crude oil futures prices today fell further by 0.43 per cent to Rs 6,760 per barrel, as participants indulged in reducing positions, tracking a weak trend in the Asian region.

At the Multi Commodity Exchange, crude oil for delivery in October fell by Rs 29 or 0.43 per cent, to Rs 6,760 per barrel in 610 lots.

In a likewise manner, oil for September moved down by Rs 26, or 0.38 per cent, to Rs 6,731 per barrel in 3,128 lots.

Analysts said fall in crude oil futures was attributed to a weak trend in Asian trade on receding fears of a disruption in Middle East supply after a US-Russia deal to avert a Western military strike on Syria.

Meanwhile, West Texas Intermediate (WTI) crude for October delivery eased 68 cents to $ 105.91 a barrel on the New York Mercantile Exchange in mid-morning trade today.