Crude oil futures slip on weak global cues

Crude oil futures fell by Rs 4 to Rs 4,159 per barrel on Wednesday after participants reduced positions amid a weak trend in global markets. On the Multi Commodity Exchange, crude oil for delivery in December fell by Rs 4, or 0.10 percent, to Rs 4,159 per barrel with a business volume of 13,854 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. Globally, West Texas Intermediate crude oil was trading down 0.24 percent to USD 58.27 per barrel while Brent Crude, the international benchmark fell 0.19 percent to trade at USD 64.15 a barrel.