ET:Crude oil futures fall 1.84 pc on weak global cues
NEW DELHI: Crude oil futures prices fell by Rs 85 to Rs 4,539 per barrel today as speculators trimmed their positions amid a weakening global trend.
The trading sentiment weakened after Crude oil fell to the lowest in almost eight months in global markets on signs of an economic slowdown in the US and China.
At the Multi Commodity Exchange, crude oil for delivery in June fell by Rs 85, or 1.84 per cent, to Rs 4,539 per barrel in business turnover of 34,826 lots.
Similarly, the oil for delivery in July moved down by Rs 85, or 1.82 per cent, to Rs 4,583 per barrel in 3,534 lots.
Analysts attributed to the fall in crude oil futures to weakening global trend.
Meanwhile, crude oil for July delivery fell USD 1.64 to USD 81.59 a barrel on the New York Mercantile Exchange.