New Delhi: Crude oil futures fell by 0.21 per cent to Rs 2,856 per barrel on August 10 as speculators cut down their bets amid weak cues from the Asian markets.
At the Multi Commodity Exchange, crude oil for delivery in August was trading lower by Rs 6, or 0.21 per cent, to Rs 2,856 per barrel in 1,148 lots.
On similar lines, crude for delivery in far-month September fell by Rs 6, or 0.20 per cent, to Rs 2,921 per barrel, in a business volume of 25 lots.
Analysts said trading sentiment weakened after oil prices extended losses in Asia on August 10 after industry data showed a rise in US crude stockpiles, supporting oversupply concerns.
The American Petroleum Institute said overnight yesterday that crude supply had increased by around 2.1 million barrels last week.
Globally, West Texas Intermediate (WTI) crude oil for September was down five cents to USD 42.72 a barrel, while Brent for October was unchanged at USD 44.98 a barrel on the New York Mercantile Exchange.
