Crude Oil Futures Fall 0.36% Post Global Cues

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Crude oil futures slipped 0.36 per cent to Rs 4,425 per barrel, in tune with a weak trend in Asia today.

Crude oil for delivery in July fell by Rs 16, or 0.36 per cent, at Rs 4,425 per barrel, with a business volume of 104 lots at the Multi Commodity Exchange (MCX).

Also, oil prices for July delivery moved down by a similar margin to trade at Rs 4,412 per barrel, with a business volume of 3,028 lots.

Analysts said the fall in crude oil futures is mostly in tune with a weak trend in Asian trade where Brent crude dipped for a second session today, with prices coming under pressure from record US output and expectations of higher OPEC supplies.

The US benchmark West Texas Intermediate fell 5 cents to USD 65.76 while Brent was 24 cents lower at USD 76.55 per barrel.

SOURCEPTI

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