Crude oil futures down amid weak Asian cues
The crude oil for delivery in far-month May contracts at the Multi Commodity Exchange of India (MCX) fell Rs 23, or 0.81%, to Rs 2,830 per barrel in 52 lots.
Crude oil futures fell Rs 23 to Rs 2,830 per barrel on Wednesday as speculators offloaded positions amid a weak trend in Asian markets.
Trading sentiment turned weak in futures trade following a fall in crude oil prices in Asian markets as traders reacted calmly to the Brussels attacks and kept their eye on global oversupply ahead of a crucial producers' meeting in Qatar next month, analysts said.
At the Multi Commodity Exchange of India (MCX), crude oil for delivery in far-month May contracts dropped Rs 23, or 0.81%, to Rs 2,830 per barrel in 52 lots.
The oil for April delivery fell Rs 21, or 0.76%, to Rs 2,749 per barrel in a volume of 2,594 lots.
Meanwhile, the US benchmark West Texas Intermediate (WTI) crude oil for May delivery eased by 46 cents to $40.99, while Brent crude for May dipped 41 cents to $41.38 per barrel.