Crude oil futures decline on weak trend overseas


Crude oil futures decline on weak trend overseas

Crude oil futures dropped by Rs 15 to Rs 3,650 per barrel on January 14 as speculators off-loaded bets amid weak trend overseas. Marketmen said trading sentiment was dampened in futures trade here after oil prices retreated in the global market due to ample stocks.

Besides, profit-booking by participants weighed, they added. At the Multi Commodity Exchange, crude for delivery in February was trading down by Rs 15, or 0.41 percent, to Rs 3,650 per barrel in 1,955 lots.

Crude for March delivery fell by Rs 28, or 0.75 percent, to Rs 3,695 per barrel in a volume of 77 lots. West Texas Intermediate (WTI) crude oil eased 1.45 percent to USD 50.84 a barrel while global benchmark Brent crude was down 1.29 percent at USD 59.70. Read more

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