Crude oil futures fall 0.75 pc on weak global cues

Crude oil futures fell 0.75 per cent to Rs 3,191 per barrel today, in line with a weak trend in Asian trade, as speculators cut down bets.

Crude oil for delivery in the current month was trading lower by Rs 24, or 0.75 per cent, at Rs 3,191 per barrel, with a business volume of 2,189 lots at the Multi Commodity Exchange (MCX).

Also, oil prices for October delivery were down by Rs 22, or 0.68 per cent lower, at Rs 3,229 per barrel, with a business volume of 181 lots.

Analysts said the fall in crude oil futures is mostly in tune with a weak trend in Asian trade and profit-booking by speculators.

Globally, West Texas Intermediate fell 17 cents, or 0.34 per cent, to USD 49.72 while Brent was trading lower by 19 cents, or 0.34 per cent, to USD 55.28 a barrel on the New York Mercantile Exchange.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)