Crude oil futures down on global cues

Crude oil futures prices fell by 0.95 per cent to Rs 4,674 per barrel today as speculators indulged in offloading positions amid a weakening trend in the global market.

At the Multi Commodity Exchange, crude oil for delivery in April fell by Rs 45, or 0.95 per cent, to Rs 4,674 per barrel, with a business turnover of 8,650 lots.

Likewise, the oil for delivery in May traded Rs 40, or 0.84 per cent, lower at Rs 4,733 per barrel, with a business volume of 460 lots.

Analysts said weak trend in global market as stronger dollar put pressure on the oil prices, led to the fall in crude oil prices at futures trade here.

 

Meanwhile, crude oil for May delivery declined by 19 cents to $103.79 a barrel in New York.