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Crude oil futures fall 1.44% on weak global cues

Press Trust of India  |  New Delhi 

futures slipped by 1.44 per cent to Rs 5,466 per barrel Monday, as traders cut exposure at the existing levels amid a weak trend in the Asian trade.

for October was trading lower by Rs 80, or 1.44 per cent, to Rs 5,466 per barrel with a business volume of 2,472 lots at the (MCX).

Analysts said a weak trend in global market after the US said it may grant waivers to sanctions against Iran's and as was said to be replacing any potential shortfall from Iran, weighed on crude futures here.

The US benchmark Intermediate fell 54 cents, or 0.73 per cent, to USD 73.80, while Brent, the international benchmark, was down 80 cents, or 0.95 per cent, to USD 83.36 a barrel.

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

First Published: Mon, October 08 2018. 13:00 IST