Crude oil futures fall 0.88 pc on weak global cues

Crude oil futures fell 0.88 per cent to Rs 3,724 per barrel today, in line with a weak trend in Asian trade, as speculators cut down bets.

Crude oil for delivery in December was trading lower by Rs 33, or 0.88 per cent, at Rs 3,724 per barrel, with a business volume of 2,807 lots at the Multi Commodity Exchange (MCX).

Also, oil prices for January shed Rs 32, or 0.85 per cent, at Rs 3,738 per barrel, with a business volume of 75 lots.

Traders said the fall in crude oil futures is mostly in tandem with a weak trend in Asian trade today and profit- booking by speculators.
 

Meanwhile, West Texas Intermediate fell 32 cents, or 0.55 per cent, to USD 57.79 and Brent crude, used to price international oils, was trading 16 cents lower, or 0.25 per cent down at USD 63.68 a barrel.