Crude oil futures decline by 0.46 pct due to weak domestic sentiments

Crude oil futures Thursday declined by 0.46 per cent to Rs 3,888 per barrel as speculators cut bets despite strength in global prices. At the Multi Commodity Exchange, crude oil for delivery in February contracts fell by Rs 18, or 0.46 per cent, to Rs 3,888 per barrel with a business turnover of 14,041 lots.

Analysts said the futures declined due to weak domestic sentiments despite oil prices rose in global markets. However, globally, West Texas Intermediate (WTI) crude oil strengthened by 0.70 per cent to USD 54.61 a barrel, while Brent, the international benchmark, rose 0.86 per cent to USD 62.23 a barrel.