Crude oil futures decline on global cues

Crude oil futures prices fell by Rs 11 to Rs 3,662 per barrel today, as speculators reduced positions on the back of weakening global trend.

At the Multi Commodity Exchange exchange, crude oil for November delivery fell by Rs 11, or 0.30 per cent, to Rs 3,662 per barrel, with a business turnover of 188 lots.

Similarly, the oil for delivery in December lost Rs 10, or 0.27 per cent, to Rs 3,717 per barrel, with a business volume of 14 lots.

Marketmen said positions reduced by speculators in tandem with weakening global trend, mainly led to the fall in crude oil futures prices.

Meanwhile, New York's main contract, crude for December delivery, fell 22 cents to $81.96 a barrel.