Crude oil futures slips by 1.44 pct to Rs 5466 per barrel on Monday

Crude oil futures slipped by 1.44 per cent to Rs 5,466 per barrel Monday, as traders cut exposure at the existing levels amid a weak trend in the Asian trade.

Crude oil for October was trading lower by Rs 80, or 1.44 per cent, to Rs 5,466 per barrel with a business volume of 2,472 lots at the Multi Commodity Exchange (MCX).

Analysts said a weak trend in global market after the US said it may grant waivers to sanctions against Iran's oil exports next month and as Saudi Arabia was said to be replacing any potential shortfall from Iran, weighed on crude futures here.

The US benchmark West Texas Intermediate fell 54 cents, or 0.73 per cent, to USD 73.80, while Brent, the international benchmark, was down 80 cents, or 0.95 per cent, to USD 83.36 a barrel.

(With inputs from agencies.)