Crude down marginally in India

Continuing its slide, crude oil futures prices fell marginally by 0.04% to Rs 4960/barrel today 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% to Rs 4,960/barrel with an open interest of 2,158 lots. Similarly, July delivery moved down by Re 1, or 0.02%, to Rs 5,003/barrel, with an open interest of 185 lots. 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 $87.58/barrel, lowest level since October on the New York Mercantile Exchange.