Diabytes
Asian trade News
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US crude touched $59.05 a barrel on last week, the highest level since mid-2015.
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The rupee pared its early gains to trade down by 5 paise at 64.94 against the dollar on emergence of demand for the US currency from importers and banks despite higher local equities.
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The rupee pared its early losses to rule steady at its overnight levels of 66.66 against the American currency in late morning deals bouts of dollar selling from banks and exporters.
Crude oil futures fell by Rs 36 to Rs 2,722 per barrel today as speculators cut down their positions amid a weakening trend in Asian trade.
At Multi Commodity Exchange, crude for delivery in April dropped Rs 36, or 1.31 percent, to Rs 2,722 per barrel in 4,490 lots.
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Crude prices fell on Monday with the onset of lower demand autumn trading and as weak economic data out of China and soft gasoline prices pressured the market.
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US crude futures were trading at $44.86 per barrel at 0215 GMT, up 23 cents from their last settlement, pushed by a slight fall in drilling activity.
US benchmark West Texas Intermediate for October delivery fell 45 cents to USD 45.80 while Brent crude for October slipped 38 cents to USD 50.12 in late-morning trade.
US benchmark West Texas Intermediate for October delivery eased 79 cents to USD 44.43 while Brent crude for October fell USD 1.00 to USD 49.05 in late-morning trade.
Futures of U.S. crude and Brent, the global oil benchmark, are both down more than 16 percent on the month.
US benchmark West Texas Intermediate for September delivery fell 17 cents to USD 42.45 a barrel and Brent crude for October dipped 23 cents to USD 48.58 a barrel in late-morning Asian trade.
Both crude oil benchmarks are now almost a third below their last peak from May, and analysts say more falls could lie ahead.
Oil prices resumed their decline in Asia on Monday as a global glut of crude supplies showed no signs of abating in the face of sluggish demand, analysts said.
"We`re talking about September crude runs now and that`s pretty much past summer," said Tony Nunan, a risk manager at Mitsubishi Corp.
US benchmark West Texas Intermediate for September fell 36 cents to $46.76 while Brent crude for September eased 42 cents to $51.79 in morning trade.
US benchmark West Texas Intermediate for September delivery fell 36 cents to $48.16 and Brent crude for September shed 29 cents to $53.02 a barrel in late-morning trade.
US benchmark West Texas Intermediate (WTI) for September delivery was up 13 cents at USD 48.92 and Brent crude gained 32 cents to USD 53.70 a barrel in late-morning trade.
A strong dollar and signs of increasing US oil production added pressure on oil prices, which have already been depressed by a global crude oversupply, analysts said.
Ahead of an official report, the industry-funded American Petroleum Institute (API) said stockpiles had increased by 2.3 million barrels last week.
U.S. August crude , set to expire on Tuesday, fell 12 cents to 50.03 a barrel by 0054 GMT. The front-month contract fell below $50 a barrel on Monday for the first time since April.
Brent September crude was 12 cents lower at $56.98 a barrel by 0316 GMT. The benchmark had fallen nearly 3 percent last week and more than 10 percent for the month.
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