Crude oil futures fall Rs 19 on weak global cues

Crude oil futures fell Rs 19 to Rs 4,081 per barrel today as speculators reduced their positions amid a weakening trend overseas.
Profit-booking at existing levels too weighed on crude prices.
At the Multi Commodity Exchange, crude oil for delivery in March was trading lower by Rs 19, or 0.46 per cent, to Rs 4,081 per barrel in 98 lots.
The oil for delivery in February also fell by Rs 18, or 0.44 per cent, to Rs 4,085 per barrel in 2,418 lots.
Analysts said a weak trend in global markets, where oil prices dropped as rising US output, a weaker physical market and recent dollar strength added to the pressure from a widespread decline across equities and commodities markets, led to fall in crude futures.

Meanwhile, West Texas Intermediate (WTI) crude lost 35 cents, or 0.54 per cent to USD 64.15, while Brent crude, the European benchmark, fell 29 cents, or 0.42 per cent, to USD 68.73 a barrel at the New York Mercantile Exchange today.