Crude oil futures slide on weak Asian cues

Crude oil futures fell 0.85 per cent to Rs 3,033 per barrel today, in line with a weak trend in Asian trade, as speculators indulged in trimming positions.
Crude oil for delivery this month was trading lower by Rs 26 or 0.85 per cent at Rs 3,033 per barrel with a business volume of 5,363 lots at Multi Commodity Exchange (MCX).
Also, oil prices for August delivery fell by Rs 23 or 0.74 per cent at Rs 3,098 per barrel with a business volume of 275 lots.
Analysts said fall in crude oil futures is mostly in tune with a weak trend in Asian trade as an increase in US drilling activity and a strong dollar reversed gains from last week's better-than-forecast US jobs report.

Meanwhile, West Texas Intermediate was down 39 cents or 0.86 per cent to trade at USD 45.02 while global benchmark Brent was down 37 cents or 0.79 per cent to USD 46.30 per barrel.