Crude oil futures fall on weak global cues


Crude oil futures fall on weak global cues

Crude oil futures Monday declined 0.57 per cent to Rs 3,654 per barrel, as speculators cut bets to book profits amid weak global cues. On the Multi Commodity Exchange, crude oil for delivery in June contracts fell by Rs 21, or 0.57 per cent, to Rs 3,654 per barrel with a business turnover of 19,578 lots.

Analysts said trading sentiments turned weak after prices eased in global markets and profit-booking by speculators led to a further fall in the prices.

Globally, West Texas Intermediate crude oil was down 0.29 per cent to $52.36 a barrel, while brent, the international benchmark also shed 0.23 per cent to $61.87 a barrel. Read More

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