Thursday 31 October 2013

Crude oil futures down at Rs 5,948 per barrel


Crude oil futures declined 0.1 per cent to Rs 5,948 per barrel today in line with a weak trend in Asian trade.

On the Multi Commodity Exchange, crude oil for delivery in November shed Rs 6 or 0.1 per cent to Rs 5,948 per barrel with a business volume of 765 lots.

Similarly, the oil prices for December delivery moved down by Rs 3 or 0.05 per cent to Rs 5,999 per barrel with a business volume of 46 lots.

Marketmen said that the fall in crude oil futures was mostly in line with a weak trend in Asia after the US Federal Reserve kept its stimulus programme unchanged but gave a rosier-than-expected summary of the economy that fuelled rumours it will start winding down soon.

Meanwhile, crude oil for delivery in December was down by 20 cents to $96.57 a barrel on the New York Mercantile Exchange.

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