NEW DELHI, Aug 17: Crude oil futures prices today eased by 1.29 per cent to Rs 2,744 per barrel largely in tandem with a weak trend in the Asian trade.
The trading sentiment turned weak in futures trade after oil prices resumed their decline in Asian trade as a global glut of crude supplies showed no signs of abating in the face of sluggish demand, analysts said.
In futures trade at the Multi Commodity Exchange, crude oil for delivery in August plunged Rs 36, or 1.29 per cent, to Rs 2,744 per barrel in 6,293 lots.
The oil for September contracts moved down by Rs 36, or 1.27 per cent to Rs 2,807 per barrel in a volume of 1,067 lots.
Meanwhile, West Texas Intermediate crude oil for September delivery was down 63 cents to USD 41.87 in late-morning trade, the lowest since March 2009. Brent crude for October a new contract, was down 65 cents USD 48.54 a barrel on the New York Mercantile Exchange. (PTI)
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