Crude oil futures fall 0.9 pc on weak domestic demand

Crude oil futures fell 0.9 per cent to Rs 3,868 per barrel, in line with a weak trend in the domestic markets, as speculators cut their bets.

Crude for delivery in March this year was trading lower by Rs 35, or 0.9 per cent, to Rs 3,868 per barrel with a business volume of 593 lots.

Traders said the fall in crude oil futures is mostly in tandem with a muted trend, coupled with profit-booking at current levels by speculators in the domestic market.

Globally, however, the West Texas Intermediate was up 0.06 per cent to USD 53.82 per barrel, while brent, the international benchmark, surged 0.39 per cent to USD 61.89 a barrel.