Friday, 11 March 2011
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Crude oil futures down 0.21 pc on profit-taking
NEW DELHI: Crude oil prices declined by 0.21 per cent to Rs 4,741 per barrel in futures trade today, as speculators indulged in profit booking at existing higher levels amid fall in spot demand.
At the Multi Commodity Exchange , crude oil for delivery in May shed by Rs 10, or 0.21 per cent, to Rs 4,741 per barrel, with business turnover of two lots.
Similarly, the oil for delivery in March traded lower by Rs 4, or 0.09 per cent, to Rs 4,605 per barrel, with a business volume of 19 lots.
Market analysts attributed the decline in crude oil futures prices to profit-booking by speculators amid fall in demand in the spot market.
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