Crude oil prices fell by Rs. 40 to Rs. 3,989 per barrel in futures market on Thursday as speculators offloaded their positions in tandem with a weak global trend.
At the Multi Commodity Exchange, crude oil for delivery in October month declined by Rs. 40, or 0.99 per cent to Rs. 3,989 per barrel in business turnover of 11,853 lots.
Likewise, the oil for delivery in November contract lost Rs. 40, or 0.98 per cent to Rs. 4,022 per barrel in 757 lots.
Market analysts said positions offloaded by speculators on the back of weak global trend mainly led to fall in crude oil futures prices.
Meanwhile, crude traded lower by 6 cents at USD 81.15 a barrel on the New York Mercantile Exchange
Read more at: http://profit.ndtv.com/news/show/crude-oil-futures-decline-on-global-cues-180644?cp
