Crude oil futures trade tad lower on MCX

Crude oil futures traded marginally lower on MCX, as speculators cut bets on concerns about the recent weakness seen in emerging markets as well as potential new US import tariffs on Chinese goods. However, some losses were capped after data from the Energy Information Administration (EIA) that showed inventories of US crude fell by 4.302 million barrels for the week ended August 31, the lowest since February 2015.

The contract for September delivery was trading at Rs 4869.00, down by 0.31% or Rs 15.00 from its previous closing of Rs 4884.00. The open interest of the contract stood at 15205 lots.

The contract for October delivery was trading at Rs 4872.00, down by 0.27% or Rs 13.00 from its previous closing of Rs 4885.00. The open interest of the contract stood at 1619 lots on MCX.