Crude oil futures slide 1.81% on weak global cues
Crude oil futures slide 1.81% on weak global cues
Crude oil softened by 1.81 per cent to Rs 5,364 per barrel in futures trade Thursday as speculators trimmed positions amid weak global cues.
Besides, profit-booking at current levels weighed on crude oil prices.
At the Multi Commodity Exchange, crude oil for delivery in November declined by Rs 99, or 1.81 per cent, to Rs 5,364 per barrel, in a business turnover of 289 lots.
On similar lines, crude for delivery in October shed Rs 98, or 1.80 per cent, to Rs 5,356 per barrel in 1,783 lots.
Analysts said trading sentiment weakened after participants took profits when oil prices fell in overseas market.
Globally, the US benchmark West Texas Intermediate for delivery was down by USD 1.24, or 1.69 per cent, to USD 71.93 and Brent crude fell USD 1.48, or 1.78 per cent, to USD 81.61 a barrel.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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