Crude oil futures decline on global cues

Crude oil prices declined by Rs 6 to Rs 4,212 per barrel in futures trade today, as speculators reduced their position on the back of weakening global trend.  

At the Multi Commodity Exchange counter, crude oil for February-month delivery declined by Rs 6, or 0.14 per cent, to Rs 4,212 per barrel with a business turnover of 27 lots. 

Similarly, the oil for delivery in January lost Rs 5, or 0.12 per cent, to Rs 4,144 per barrel, with an open interest of 46 lots. 

Market analysts said fresh selling in tandem with weakening global trend, led to decline in crude oil prices at futures trade.

Meanwhile, New York's main contract, crude for February delivery, dropped 58 cents to $90.96 a barrel.