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Crude oil futures decline on weak trend overseas

Press Trust of India  |  New Delhi 

oil futures dropped by Rs 15 to Rs 3,650 per barrel Monday as speculators off-loaded bets amid weak trend overseas.

Marketmen said trading sentiment was dampened in futures trade here after retreated in the global market due to ample stocks.

Besides, profit-booking by participants weighed, they added.

At the Multi Commodity Exchange, for delivery in February was trading down by Rs 15, or 0.41 per cent, to Rs 3,650 per barrel in 1,955 lots.

for March delivery fell by Rs 28, or 0.75 per cent, to Rs 3,695 per barrel in a volume of 77 lots.

Intermediate (WTI) eased 1.45 per cent to USD 50.84 a barrel while global benchmark Brent crude was down 1.29 per cent at USD 59.70.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, January 14 2019. 13:01 IST