Crude oil futures declined on MCX as speculators trimmed their positions amid a weak trend in the Asian trade on softer US demand. Further, the speculation that the infighting in Iraq may not crimp supplies from the OPEC’s second biggest crude producer as the oil-rich southern part remains safe from violence too supported the downside.
The contract for July delivery was trading Rs 6342.00, down by 0.35% or Rs 22.00 from its previous closing of Rs 6364.00. The open interest of the contract stood at 11687.00 lots.
The contract for August delivery was trading at Rs 6333.00, down by 0.35% or Rs 22.00 from its previous closing of Rs 6355.00. The open interest of the contract stood at 1099.00 lots on MCX.
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