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Crude oil futures fall 0.51 pc on weak global cues

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Press Trust of India New Delhi

Crude oil futures fell 0.51 per cent to Rs 3,696 per barrel Tuesday in line with a weak overseas trend.

Crude oil contracts for delivery in June were trading lower by Rs 19, or 0.51 per cent, at Rs 3,696 per barrel with a business volume of 24,534 lots at the Multi Commodity Exchange.

Analysts said the fall in crude oil futures was in tune with a weak trend in global market where it slipped on rising fears of a global economic slowdown, fuelled by intensifying tensions between the US and China.

Globally, West Texas Intermediate traded 0.06 per cent higher at USD 53.28, while global benchmark Brent was down 0.05 per cent to USD 61.25 a barrel.

 

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First Published: Jun 04 2019 | 2:01 PM IST

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