Crude oil futures ease on low demand

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Crude oil futures fell 0.13 percent to Rs 3,740 per barrel on Wednesday after speculators booked profits at existing levels amid subdued spot demand.

Crude oil for delivery in October was trading lower by Rs 5, or 0.13 percent, to Rs 3,740 per barrel with a business volume of 27,010 lots on the Multi Commodity Exchange (MCX).

The oil for delivery in November, however, was up by Re 1, or 0.03 percent, to Rs 3,760 per barrel in 483 lots.

Meanwhile, the global benchmark Brent was down by 0.17 percent at USD 58.14 per barrel, while West Texas Intermediate dipped 0.25 percent at USD 52.50. Get access to India’s fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code “GETPRO”. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.