Crude Oil Futures Decline On Weak Overseas Cues

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New Delhi, Jan 28 (PTI) Crude oil futures fell by Rs 27 to Rs 3,785 per barrel Monday as speculators offloaded their bets amid a weak trend overseas.

Trading sentiment was dampened in futures trade here after oil prices retreated in the global market on deepening sense of global economic gloom and oversupply, say reports.

At the Multi Commodity Exchange, crude for delivery in February was trading down by Rs 27, or 0.71 per cent, at Rs 3,785 per barrel in 25,395 lots.

The oil for March delivery, too, fell by Rs 36, or 0.94 per cent, to Rs 3,813 per barrel with a business volume of 539 lots.

International benchmark Brent crude futures dropped to USD 60.86 a barrel, a fall of 0.72 per cent, while West Texas Intermediate (WTI) dropped below USD 52.97 per barrel.

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