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Crude oil futures fall Rs 26 on weak global cues

NEW DELHI, Dec 6:  Crude oil futures fell by Rs 26 to Rs 3,698 per barrel today as speculators reduced their positions amid a weakening trend overseas.
Profit-booking at existing levels too weighed on crude prices.
At the Multi Commodity Exchange, crude oil for delivery in December was trading sharply lower by Rs 26, or 0.70 per cent, to Rs 3,698 per barrel in 1,601 lots.
The oil for delivery in far-month January also fell by a similar margin to trade at Rs 3712 per barrel in 57 lots.
Analysts said a weak trend in global markets, where oil prices dropped, mainly led to fall in crude prices at futures trade here.
Meanwhile, West Texas Intermediate (WTI) crude lost 0.42 per cent to USD 57.38, while Brent crude, the European benchmark, fell 0.38 per cent to USD 62.62 a barrel at the New York Mercantile Exchange today. (PTI)


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