Crude oil futures decline on weak Asian leads

Monday, Dec 21, 2015,12:52 IST By metrovaartha A A A

New Delhi | Crude oil futures fell Rs 15 to Rs 2,493 per barrel Monday as speculators offloaded bets amid a weak trend in Asian markets. Trading sentiment turned weak in futures trade after oil prices resumed their slide in Asian markets as a spurt in the number of US oil rigs in use and the prospects of renewed crude exports from the country compounded a global oversupply, analysts said.

At the Multi Commodity Exchange, crude oil for delivery in February next year fell Rs 15, or 0.60 per cent, to Rs 2,493 per barrel in 139 lots. The oil for January 2016 delivery fell Rs 10, or 0.42 per cent, to Rs 2,392 per barrel in a volume of 1,196 lots.

Meanwhile, West Texas Intermediate (WTI) crude oil for January delivery eased 20 cents to USD 34.53 a barrel, which are at lows not seen since the height of the global financial crisis at the start of 2009.

Brent crude for February was down 33 cents to USD 35.55 per barrel.