Crude Oil Futures Decline On Weak Overseas Cues

New Delhi, Dec 20 (PTI) Crude oil futures fell by Rs 47 to Rs 3,333 per barrel Thursday 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.
Oil prices are down more than 30 per cent from peaks seen in October.
At the Multi Commodity Exchange, crude for delivery in January was trading down by Rs 47, or 1.39 per cent, to Rs 3,333 per barrel in 25,395 lots.
The oil for February delivery, too, fell by Rs 45, or 1.32 per cent, to Rs 3,373 per barrel in volume of 539 lots.
International benchmark Brent crude futures dropped to USD 56.58 a barrel, a fall of 1.2 per cent, while West Texas Intermediate (WTI) dropped below USD 45.79 per barrel.


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