Crude Oil Futures Fall On Weak Global Cues

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New Delhi, Aug 20 (PTI) Crude oil futures declined by Rs 13 to Rs 4,558 per barrel today as speculators reduced bets amid a weak trend overseas.

At the Multi Commodity Exchange, crude for delivery in September dropped by Rs 13, or 0.28 per cent, to Rs 4,558 per barrel in 254 lots.

Similarly, the oil for delivery in August moved down by Rs 11, or 0.24 per cent, to Rs 4,587 per barrel in 590 lots.

Marketmen said the trading sentiment in futures trade dampened after crude oil prices eased in global market amid concerns over slowing economic growth weighed on markets.

Meanwhile, West Texas Intermediate (WTI) crude fell 27 cents to USD 64.94, while Brent crude slipped 22 cents to USD 71.61 per barrel on the New York Mercantile Exchange.

SOURCEChiniMandi

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