NEW DELHI, Aug 19: Crude oil futures slipped 0.28 per cent to Rs 2,828 per barrel today, in line with a weak trend in Asian trade, as traders cut down their bets.
Crude oil for delivery in September was trading lower by Rs 8, or 0.28 per cent, at Rs 2,828 per barrel, with a business volume of 1,477 lots at Multi Commodity Exchange (MCX).
Also, oil prices for August delivery moved down Rs 6, or 0.22 per cent, to trade at Rs 2,773 per barrel, with a business volume of 3,078 lots.
Analysts said the fall in crude oil futures is mostly in step with a weak trend in Asian trade, giving up meagre gains in the previous session as investors await a US inventory report to gauge demand in the world’s top economy.
Meanwhile, West Texas Intermediate for September delivery fell 17 cents to USD 42.45 while Brent for October eased 23 cents to USD 48.58 in late-morning Asian trade on the New York Mercantile Exchange. (PTI)
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