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Crude oil futures fall 0.80 pc on weak global cues

Business Finance

Press Trust of India  |  New Delhi 

Continuing its slide, crude oil futures fell by another 0.80 per cent, to Rs 4,572 per barrel

on Monday as speculators indulged in trimming their holdings in line with a weak trend in the Asian trade.

Crude oil for delivery in November was trading lower by Rs 37, or 0.80 per cent, to Rs 4,572 per barrel with a business volume of 2,093 lots at Multi Commodity Exchange (MCX).

Also, oil prices for December shed Rs 35, or 0.76 per cent to Rs 4,598 per barrel, with a business volume of 247 lots.

Traders said persistent fall in crude oil at futures market is largely in sync with a weak trend overseas on higher supply from world's major crude producers and profit-booking by participants.

Meanwhile, West Texas Intermediate fell 0.70 per cent, to USD 62.70 and Brent was trading 0.55 per cent down at USD 72.43 a barrel.

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

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First Published: Mon, November 05 2018. 12:35 IST