Crude oil futures down on weak Asian cues

Crude oil futures prices today fell by 0.83 percent to Rs 6,338 per barrel, as speculators trimmed positions amid a weakening trend in the Asian trade on profit bookings.

At the Multi Commodity Exchange, crude oil for delivery in July shed Rs 53 or 0.83 percent, to Rs 6,338 per barrel in 4,191 lots.

Also read: Expect Crude prices to trade lower: Nirmal Bang

In a likewise manner, oil for the month of August moved down by Rs 57, or 0.90 percent, to Rs 6,305 per barrel in 657 lots.

The trading sentiment eased at futures trade as crude oil prices slipped in Asian trade booked profits after recent gains, fuelled by a bigger-than-expected drop in US crude inventories, analysts said.

Meanwhile, West Texas Intermediate (WTI) crude for April dropped 25 cents to USD 106.27 a barrel on the New York Mercantile Exchange in the morning trade today.

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