Crude oil futures down on lower global trend

Crude oil futures prices fell by Rs 26 to Rs 3,899 per barrel today, as speculators offloaded their holdings on the back of weakening global trend.

At the Multi Commodity Exchange counter, crude oil for December delivery fell by Rs 26, or 0.66 per cent, to Rs 3,899 per barrel, with a business turnover of seven lots.

Similarly, the oil for delivery in November declined by Rs 24, or 0.62 per cent to Rs 3,838 per barrel, with a trade volume of 72 lots.

Market analysts said speculators offloading their positions in tandem with a weak trend in global markets lowered crude oil futures prices here. 

Meanwhile, New York's main contract, crude for delivery in December, slipped 25 cents to $86.47 a barrel.