Crude oil futures slip on weak global cues
Marketmen said the fall in crude oil futures was mostly due to trimming of positions by traders in tandem with a weak trend overseas.
New Delhi: Crude oil futures fell by Rs 18 to Rs 4,188 per barrel on Monday after participants reduced positions amid a weak trend in global markets.
On the Multi Commodity Exchange, crude oil for delivery in December fell by Rs 18, or 0.43 per cent, to Rs 4,188 per barrel with a business volume of 26,074 lots.
Marketmen said the fall in crude oil futures was mostly due to trimming of positions by traders in tandem with a weak trend overseas.
Globally, West Texas Intermediate crude oil was trading down by 0.66 per cent to USD 58.81 per barrel while Brent Crude, the international benchmark fell 0.57 per cent to trade at USD 64.02 a barrel.