NEW DELHI, Aug 21: Crude oil futures fell 1.62 per cent to Rs 2,785 per barrel today due to speculative selling amid a weakening trend in Asian trade.
At Multi Commodity Exchange, crude oil for delivery in far-month October was trading Rs 46, or 1.62 per cent, lower at Rs 2,785 per barrel in 488 lots.
Oil for September delivery moved down Rs 37, or 1.34 per cent, to Rs 2,717 per barrel in 7,420 lots.
Analysts attributed persistent fall in crude prices at futures trade to weak trend in Asian trade today as sharp falls in equities added to worries lacklustre global economic growth will hurt energy demand in an oversupplied market.
Meanwhile, West Texas Intermediate (WTI) crude for October delivery, a new contract, lost 49 cents at USD 40.8357, while Brent crude for October tumbled 56 cents to USD 46.06 a barrel on the New York Mercantile Exchange. (PTI)
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