Crude oil futures were trading lower during the evening trade in the domestic market on Monday as investors and speculators exited positions in the energy commodity on strong US dollar and the US crude drillers added more rigs for a tenth week running.
Further, a slide in crude oil was mostly in-line with a weak trend in Asian trade where it extended losses after US dollar strengthening on renewed bets for US interest rates rising next week.
At the MCX, crude oil futures for September 2016 contract is trading at Rs 3,017 per barrel, down by 2.05 per cent, after opening at Rs 3,070, against a previous close of Rs 3,080. It touched the intra-day low of Rs 3,006.
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