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Crude oil futures fall 0.9% on weak global cues

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Crude oil futures fell by 0.9 per cent to Rs 3,946 per barrel on Friday as speculators trimmed their holdings, in line with a weak trend overseas.

Crude oil for delivery in March was trading lower by Rs 36, or 0.9 per cent, at Rs 3,946 per barrel with a business volume of 14,634 lots at the Multi Commodity Exchange (MCX).

Crude oil for April also fell by Rs 36, or 0.89 per cent, to Rs 3,987 per barrel with a business volume of 712 lots.

Traders said persistent fall in crude oil at futures market is largely in sync with a weak trend overseas on higher supply from world’s major producers and profit-booking by participants.

Meanwhile, West Texas Intermediate fell 0.69 per cent to USD 56.30, while Brent was trading down 0.75 per cent at USD 65.80 a barrel.



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