Crude oil down 0.19% on profit-booking

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	Commodities		Energy

Crude oil down 0.19% on profit-booking
Press Trust of India / New Delhi Feb 21, 2012, 13:59

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Crude oil prices fell marginally by Rs 10 to Rs 5,203 per barrel in futures trade today, as speculators booked profits at prevailing higher levels even as it extended gains overseas.

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At the Multi Commodity Exchange, The March contract for crude oil fell by Rs 10, or 0.19%, to Rs 5,203 per barrel, with a business turnover of 6,837 lots.

The April contract also traded lower by Rs 8, or 0.15% to Rs 5,252 per barrel, with a business turnover of 344 lots.

Market analysts said profit-booking by speculators mainly led to a fall in crude oil prices at futures trade here but firming trend in overseas market after euro zone finance ministers sealed a deal on a massive new bailout for Greece, restricted the losses.

Meanwhile, crude for March delivery was trading $1.78 higher at $105.02 a barrel at the New York Mercantile Exchange.