Crude oil futures decline on weak global trend

Crude oil futures fell 0.76 percent to Rs 3,923 per barrel on Tuesday after participants reduced positions amid a weak trend in global markets. On the Multi Commodity Exchange, crude oil for delivery in November fell by Rs 30, or 0.76 percent, to Rs 3,923 per barrel with a business volume of 21,318 lots.

Marketmen said the fall in crude oil futures was mostly due to the trimming of positions by traders in tandem with a weak trend overseas. Meanwhile, West Texas Intermediate crude oil was trading down 0.72 percent to USD 55.41. Brent Crude, the international benchmark, fell 0.50 percent to trade at USD 61.26 a barrel.

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