OIL & GAS

Crude oil futures fall on weak global cues

Crude oil futures on Friday fell 0.26 per cent to Rs 4,180 per barrel in line with a weak trend in overseas market. Crude oil contracts for December delivery traded lower by Rs 11, or 0.26 per cent, at Rs 4,180 per barrel with a business volume of 16,649 lots on the Multi Commodity Exchange.

The crude oil contracts for January delivery traded down by Rs 8, or 0.19 per cent, to Rs 4,183 per barrel in a business turnover of 325 lots.

Analysts said the fall in oil prices was mostly in tune with a weak trend in global markets.

Meanwhile, West Texas Intermediate was 0.80 per cent down at USD 58.11 per barrel, while global benchmark Brent crude was trading lower by 0.73 per cent at USD 63.50 a barrel.

Source
ET Energy World
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