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Journalism of Courage
Continuing its slide,crude oil futures price today fell marginally by 0.04 per cent to Rs 4,960 per barrel as speculators engaged in reducing their positions amid a weak trend in the Asian trade on continued euro-zone worries.
At the Multi Commodity Exchange,crude oil for delivery in June shed Rs 2,or 0.04 per cent,to Rs 4,960 per barrel,with an open interest of 2,158 lots.
Similarly,the oil for July delivery moved down by Re 1,or 0.02 per cent,to Rs 5,003 per barrel,with an open interest of 185 lots.
Marketmen said the fall in crude oil futures prices was mostly attributed to a weakening trend in Asian trade with prices hitting multi-month lows as Spain’s banking woes intensified worries about the euro zone.
Meanwhile,crude oil for delivery in July was down 24 cents to USD 87.58 per barrel,lowest level since October on the New York Mercantile Exchange.
