Crude Oil Futures Fall On Weak Global Cues

New Delhi, Jan 10 (PTI) Crude oil futures eased by Rs 30 to Rs 3,656 per barrel Thursday as speculators were engaged in reducing their exposures amid a weakening trend overseas.
At the Multi Commodity Exchange, crude for delivery in February was trading lower by Rs 30, or 0.81 per cent, to Rs 3,656 per barrel in a business turnover of 19,433 lots.
 The oil for delivery in March also fell by Rs 29, or 0.74 per cent, to Rs 3,694 a barrel in 1,887 lots.
Oil price benchmarks had jumped by around 5 per cent on Wednesday as financial markets around the world surged on the hopes that the US and China may soon be able to end their trade disputes, soothing fears of an all-out trade war, say reports.
The West Texas Intermediate (WTI) crude lost 1.2 per cent to USD 51.75, while Brent crude, the international benchmark fell 1 per cent to USD 60.81 per barrel at the New York Mercantile Exchange.


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