Crude oil futures fall on weak global cues

Crude oil futures prices fell by Rs 8 to Rs 3,689 per barrel today, as speculators reduced positions on the back of weakening global trend.

At the Multi Commodity Exchange counter, crude oil for November delivery fell by Rs 8, or 0.22 per cent, to Rs 3,697 per barrel, with a business turnover of 59 lots.

Similarly, the oil for delivery in December declined by Rs 6, or 0.16 per cent, to Rs 3,738 per barrel, with a trade volume of 15 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 delivery in December, shed 30 cents to $82.25 a barrel.