NEW DELHI, Aug 18: Crude oil futures were down 1.23 per cent to Rs 2,802 per barrel today after speculators trimmed positions in tandem with a weak trend in Asian trade.
At the Multi Commodity Exchange, crude oil for delivery in September shed Rs 35, or 1.23 per cent, to Rs 2,802 per barrel, with a business volume of 1,869 lots.
Oil prices for August also moved down by Rs 34, or 1.22 per cent, to Rs 2,745 per barrel, with a business volume of 5,282 lots.
Marketmen said the fall in crude oil futures was mostly in line with a weakening trend in Asia, weighed down by a strengthening dollar as concerns about weakening demand in China added to expectations a global oversupply will last for years.
(PTI)
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