Free Press Journal

Crude oil futures fall 0.43% on weak global cues


New Delhi: Crude oil futures fell 0.43 percent to Rs 3,704 per barrel today, in line with a weak trend in Asian trade, as speculators cut down their bets. Crude oil for delivery in current month was trading lower by Rs 16, or 0.43 percent, at Rs 3,704 per barrel, with a business volume of 2,159 lots at Multi Commodity Exchange(MCX).

Also, oil prices for December shed Rs 15, or 0.40 percent, at Rs 3,728 per barrel, with a business volume of 116lots. Traders said the fall in crude oil futures is mostly in tandem with a weak trend overseas and participants cutting down their holdings at current levels. Meanwhile, West Texas Intermediate fell 13 cents, or 0.23per cent, to USD 56.63 and Brent was trading 21 cents, or 0.33per cent down at USD 62.95 a barrel.