Crude oil futures fall 0.51% on poor global cues

Crude oil prices fell by Rs 18, or 0.51 per cent, to Rs 3,496 per barrel in futures market today, as speculators reduced their holdings in tandem with a weakening global trend.

At the Multi Commodity Exchange counter, crude oil for September delivery fell by Rs 18, or 0.51 per cent, to Rs 3,496 per barrel, with an open interest of 39,993 lots.

Similarly, the oil for delivery in October moved down by Rs 14, or 0.39 per cent, to Rs 3,571 per barrel, with an open interest of 7,284 lots.

Market analysts said fresh off-loading by speculators after oil prices fell in global markets led to a fall in crude oil prices at futures trade.

 

Meanwhile, crude oil prices fell by 48 cents to $75.54 a barrel in New York.