Crude oil futures slip on weak global cues

Crude oil futures on Friday fell by Rs 3 to Rs 4,175 per barrel after participants reduced positions, tracking a weak trend in global markets. On the Multi Commodity Exchange, crude oil prices for December delivery dropped by Rs 3, or 0.07 percent, to Rs 4,175 per barrel with a business volume of 30,437 lots.

Similarly, crude oil for January delivery was quoting lower by Rs 4, or 0.1 percent, at Rs 4,182 per barrel with an open interest of 1,328 lots. The fall in crude oil futures was mostly due to trimming of positions by traders, in line with weak global cues, analysts said.

Globally, West Texas Intermediate crude oil was trading 0.17 percent lower at USD 58.01 per barrel, while the international benchmark Brent Crude traded down by 0.58 percent at USD 63.50 per barrel in New York.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)