Crude oil futures decline on weak global cues
Crude oil futures fell 0.39 per cent to Rs 3,854 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 October shed Rs 15, or 0.39 per cent, to Rs 3,854 per barrel with a business volume of 21,539 lots.
Analysts said the fall in crude oil futures was mostly due to trimming of positions by traders amid weak global cues.
Meanwhile, West Texas Intermediate crude oil was trading 1.02 per cent down at $54.14 per barrel. Brent Crude, the international benchmark, fell 1.16 per cent to trade at $59.81 per barrel.
