Crude oil futures fall on global cues

1

Crude oil prices Friday fell 0.19 per cent to Rs 3,636 per barrel as speculators indulged in reducing holdings amid a weakening trend overseas.

On the Multi Commodity Exchange, crude for delivery in June contracts fell by Rs 7, or 0.19 per cent, to Rs 3,636 per barrel in a business volume of 21,445 lots.

Analysts said continuous off-loading of holdings by participants in line with a weakening trend in global crude, mainly weighed on crude prices at futures trade here.

The oil for delivery in July contracts lost Rs 6, or 0.16 per cent, to Rs 3,671 per barrel in a business volume of 3,018 lots.

The West Texas Intermediate (WTI) crude fell 0.21 per cent to USD 52.17, while Brent crude, the international benchmark, gained 0.15 per cent to USD 61.40 a barrel on the New York Mercantile Exchange.