Crude oil futures fall 2.28% on weak global cues

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Crude oil futures fell 2.28 percent to Rs 3,689 per barrel on Monday in tandem with weak overseas trends.

Crude oil contracts for June delivery traded lower by Rs 86, or 2.28 percent, at Rs 3,689 per barrel with a business volume of 21,363 lots on the Multi Commodity Exchange.

Analysts said the fall in crude oil futures is mostly in tune with a weak trend in global markets where the sentiments are dented over fears of an economic slowdown due to the ongoing Sino-US trade tiff.

Meanwhile, West Texas Intermediate was down 0.95 percent to USD 52.99, while global benchmark Brent was down 1.50 percent to USD 61.06 a barrel.