Crude oil futures fall 1.80%, hurt by weak global cues

Crude oil futures fell 1.80 per cent to Rs 3,102 per barrel today, in line with a weak trend overseas as speculators cut down their bets.
Crude oil for delivery in June was trading lower by Rs 57 or 1.80 per cent at Rs 3,102 per barrel with a business volume of 5,030 lots at Multi Commodity Exchange (MCX).
Also, oil prices for July delivery was trading lower by Rs 56 or 1.76 per cent at Rs 3,130 per barrel with a business volume of 192 lots.
Analysts said fall in crude oil futures is mostly in tune with a weak trend in global market and profit-booking by speculators.

Meanwhile, West Texas Intermediate was down 32 cents at USD 48.04 while global benchmark Brent was down 26 cents at USD 50.37 a barrel.