Crude Oil Futures Slip On Weak Global Cues
Crude oil futures on Friday fell by Rs 2 to Rs 4,159 per barrel after participants reduced positions, tracking a weak trend in global markets.
On the Multi Commodity Exchange, crude oil prices for December delivery dropped by Rs 2, or 0.05 per cent, to Rs 4,159 per barrel with a business volume of 14,688 lots.
Similarly, crude oil for January delivery was quoting lower by Rs 4, or 0.10 per cent, at Rs 4,163 per barrel with an open interest of 394 lots.
The fall in crude oil futures was mostly due to trimming of positions by traders, in line with weak global cues, analysts said.
Globally, West Texas Intermediate crude oil was trading 0.10 per cent lower at USD 58.37 per barrel, while the international benchmark Brent Crude traded down by 0.22 per cent at USD 63.25 per barrel in New York.
(PTI)
