Crude oil futures fall on weak global cues
New Delhi: Crude oil futures fell by Rs 28 to Rs 3,980 per barrel on Friday after participants reduced positions, tracking a subdued trend in global markets.
On the Multi Commodity Exchange (MCX), crude oil for November delivery dropped by Rs 28, or 0.70 per cent, to Rs 3,980 per barrel in 21,499 lots.
Similarly, crude oil for December delivery was quoting lower by Rs 29, or 0.72 per cent, at Rs 3,994 per barrel in 237 lots.
The fall in crude oil futures was mostly due to trimming of positions by traders, in line with weak global cues, analysts said.
Globally, West Texas Intermediate crude oil was trading 0.43 per cent lower at $55.99 per barrel, while international benchmark Brent Crude was quoting lower by 0.37 per cent at $61.44 per barrel.
