You are here: Home » PTI Stories » National » News
Business Standard

Crude oil futures down on overseas cues

Topics
Business Finance

Press Trust of India  |  New Delhi 

Crude oil prices slipped by 0.38 per cent to Rs 4,782 per barrel in futures trading today as speculators cut down bets amid weak global cues.

At the Multi Commodity Exchange, crude oil for delivery in August fell by Rs 18, or 0.38 per cent to Rs 4,782 per barrel in a business turnover of 3,336 lots.

Similarly, crude for delivery in September was trading lower by Rs 8, or 0.17 per cent to Rs 4,728 per barrel in 44 lots.

Analysts said sentiment dampened as oil prices edged down in global markets after three days of gains, but were still supported by Saudi Arabia's halt on transporting crude through a key shipping lane, falling US inventories and easing trade tensions between Washington and Europe.

Globally, West Texas Intermediate (WTI) crude oil was down 2 cents, or 0.03 per cent to USD 69.59 a barrel, while Brent shed 5 cents, or 0.07 per cent, to USD 74.49 a barrel on the New York Mercantile Exchange.

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

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, July 27 2018. 11:35 IST
RECOMMENDED FOR YOU