Crude futures declined 0.29 percent is currently to Rs 6,138 per barrel as speculators cut positions amid a weakening trend in the Asian markets.
At at 1:00 PM January 31, 2014 on MCX, Crude Oil February delivery fell by Rs 18, or 0.29 per cent, to Rs 6,138 per barrel in 2062 lots.
Similarly, the oil for delivery in March delivery fell 20 rupees, or 0.32 percent, to 5,344 rupees per barrel in 103 lots.
The trading sentiment turned shaky after oil prices fell in thin Asian trade as investors took profits, marketmen said.
on NYMEX main contract West Texas Intermediate crude for March delivery fell seven cents to $ 98.16 a barrel in late morning trade.
Reported News Source: Economic Times