Crude oil futures fell by Rs 16 amid global cues

Crude oil futures fell by Rs 16 to Rs 4,077 per barrel Tuesday as speculators trimmed bets amid a firm trend overseas. At Multi Commodity Exchange, crude for delivery in April dropped Rs 16, or 0.39 per cent, to Rs 4,077 per barrel in 2,765 lots.

On similar lines, oil for delivery in the current month moved down by Rs 15, or 0.37 per cent, to Rs 4,043 per barrel in 4,839 lots. Marketmen said the fall in crude prices at futures market was mostly attributed to profit-booking but a firm trend overseas where it rose to a near four-month high, capped the losses. Meanwhile, West Texas Intermediate (WTI) crude traded higher at USD 59.38, while Brent crude rose 0.15 per cent, to USD 67.64 per barrel on the New York Mercantile Exchange.

(With inputs from agencies.)