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Crude oil futures fall 3.57 pc on weak global cues

Press Trust of India  |  New Delhi 

Crude oil futures on Thursday slumped 3.57 per cent to Rs 1,889 per barrel as participants trimmed their positions in line with weak trend overseas.

On the Multi Commodity Exchange, crude oil for April delivery fell by Rs 70, or 3.57 per cent, to Rs 1,889 per barrel with a business volume of 28,716 lots.

Crude oil for May delivery was quoting lower by Rs 59, or 2.73 per cent, to Rs 2,105 per barrel with an open interest of 383 lots.

Analysts said the fall in crude oil futures was mostly due to trimming of positions by participants amid low demand.

Globally, West Texas Intermediate crude oil fell 1.63 per cent to USD 24.09 per barrel and, Brent Crude slipped 0.55 per cent to USD 27.24 per barrel in New York.

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

First Published: Thu, March 26 2020. 13:40 IST