Crude oil futures decline on weak global trend

Crude oil futures fell by Rs 8 to Rs 4,484 per barrel on Tuesday in line with a weak trend in overseas markets. Crude oil contracts for September delivery traded lower by Rs 8, or 0.36 percent, at Rs 4,484 per barrel with a business volume of 26,576 lots on Multi Commodity Exchange (MCX).

The oil contracts for October delivery shed Rs 29, or 0.64 percent, to Rs 4,486 per barrel in 3,395 lots. Meanwhile, West Texas Intermediate was down 0.89 percent at USD 62.34, while global benchmark Brent was down 0.51 percent at USD 68.67 a barrel.