Price of NCDEX crude futures drops on easing supply risks

MUMBAI: Online commodity exchange NCDEX today said crude oil futures traded 2,91,800 barrels generating a value of over Rs 190 crore.

While near-month futures traded 2,45,200 barrels, mid- month contracts traded 46,100 barrels in September, NCDEX said in a release.

The open interest in crude futures stood at 33,800 barrels as on September 30. The total value of trade in crude oil futures till September 28 was about Rs 193.9 crore.

The near-month price of NCDEX crude futures dropped from a high of Rs 7,188 per barrel in early September to Rs 6,415 per barrel by the end of the month, tracking various global factors like easing of supply risks in West Asia and additional supply from Libya, it added.