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Crude oil futures drop by 2.84% on overseas cues

Press Trust of India  |  New Delhi 

prices fell by 2.84 per cent to Rs 3,529 per barrel in futures trading Thursday as speculators cut bets, driven by a weak trend overseas.

At the Multi Commodity Exchange, for delivery in December declined by Rs 103, or 2.84 per cent to Rs 3,529 per barrel in business turnover of 19,097 lots.

Similarly, the for delivery in January 2019 was trading lower by Rs 98, or 2.68 per cent to Rs 3,561 per barrel in 626 lots.

Analysts said cutting down of positions by participants in line with a weak trend overseas, mainly pulled down prices at futures trade.

Globally, Brent fell 0.42 per cent, to USD 58.84 a barrel, on the

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

First Published: Thu, November 29 2018. 13:00 IST