Crude Oil Futures Slip 0.54 Pc On Weak Global Cues

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New Delhi, Sep 18 (PTI) Crude oil futures fell by Rs 27 to Rs 4,975 per barrel Tuesday as speculators reduced their bets following weakness in global market.

At Multi Commodity Exchange, crude oil for delivery in October was trading Rs 27, or 0.54 per cent, lower at Rs 4,975 per barrel in 248 lots.

Oil for September delivery also moved down by Rs 25, or 0.50 per cent, to Rs 4,970 per barrel in a business volume of 1,800 lots.

Analysts said the trading sentiments dampened in futures trade as oil prices as the latest escalation in the China-US trade war clouded the outlook for demand, although concerns over tightening supply offered prices some support.

Meanwhile, the US benchmark crude oil fell 32 cents, or 0.46 per cent to USD 68.59 a barrel, while Brent crude slid 27 cents, or 0.35 per cent, to quote at USD 77.78 a barrel.

SOURCEChiniMandi

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