NEW DELHI, July 29: Crude oil futures today fell 0.42 per cent to Rs 3,070 per barrel as speculators cut down bets amid a weak trend in Asian trade.
At the Multi Commodity Exchange, crude oil for delivery in August contracts was trading down by Rs 13, or 0.42 per cent at Rs 3,070 per barrel in a business turnover of 4,976 lots.
The oil for September delivery moved down Rs 12, or 0.38 per cent to Rs 3,117 per barrel in 358 lots.
Analysts said the fall in crude prices in futures trade was mostly in tune with a weak trend in Asian trade as investors waited for the results of a US Fed Reserve meeting and a closely-watched report on crude inventories in the world’s biggest economy.
Meanwhile, West Texas Intermediate crude for September delivery fell nine cents to USD 47.89 and Brent for September was down 12 cents to USD 53.18 a barrel in late-morning trade at the New York Mercantile Exchange. (PTI)
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