Crude oil futures fall 0.31 per cent on weak global cues

Crude oil futures fell 0.31 per cent to Rs 4,644 per barrel, in line with a weak trend in Asian trade, as speculators cut down their bets.

Crude for delivery in November was trading lower by Rs 18, or 0.31 per cent, to Rs 4,644 per barrel,with a business volume of 3,014 lots.

Traders said the fall in crude oil futures is mostly in tandem with a weak trend overseas where it slipped to trade at seven-month low on concerns over weakening global demand and increased supply from the world's major oil producers.

Meanwhile, West Texas Intermediate fell 0.22 per cent to USD 63.55 per barrel, while Brent, the international benchmark, dipped 3.48 per cent to USD 72.65 a barrel.