Crude oil falls 0.80% on weak global cues

Crude oil futures today fell by 0.80% to Rs 5,343 per barrel, as speculators offloaded positions in tandem with a weakening global trend.

On the Multi Commodity Exchange, the March contract for crude oil moved down by Rs 43, or 0.80%, to Rs 5,343 per barrel, with a trading volume of 2,526 lots.

The April contract shed Rs 40, or 0.74%, to Rs 5,400 per barrel in 301 lots.

Marketmen said trading sentiment in crude oil at futures trade turned weak after it dropped in Asian trade amid concerns that rising prices could affect global economic growth.

Meanwhile, New York's main April contract, was down 61 cents to $107.95 in morning trade.