Crude oil futures fall on global cues
On the Multi Commodity Exchange, crude oil for delivery in August contracts fell by Rs 18 to Rs 3,873 per barrel.
New Delhi: Crude oil futures Monday declined 0.46 per cent to Rs 3,873 per barrel as speculators cut bets to book profits amid weak global cues.
On the Multi Commodity Exchange, crude oil for delivery in August contracts fell by Rs 18, or 0.46 per cent, to Rs 3,873 per barrel with a business turnover of 29,110 lots.
Analysts said trading sentiments turned weak after prices eased in global markets and profit-booking by speculators mainly exerted pressure on prices.
Globally, West Texas Intermediate crude oil was down 1.24 per cent to USD 54.97 a barrel, while brent, the international benchmark also shed 1.36 per cent to USD 61.05 a barrel.