Crude Oil futures edge lower on weak overseas demand

Crude Oil futures edge lower on weak overseas demand

Sep 08,2014   02:13 Hrs IST

Crude Oil futures traded down on MCX as speculators exited positions in the energy commodity tracking a weak trend in the overseas market after the weakest US jobs growth this year signaled doubts over the labour market recovery in the world’s biggest economy, dimming the demand outlook for the fuel. The contract for September delivery was trading at Rs 5600.00, down by 0.74% or Rs 42.00 from its previous closing of Rs 5642.00. The open interest of the contract stood at 16320.00 lots. The contract for October delivery was trading at Rs 5603.00, down by 0.67% or Rs 38.00 from its previous closing of Rs 5641.00. The open interest of the contract stood at 2723.00 lots on MCX.