 "Crude oil falls on weak overseas cues")
Crude oil futures today fell by Rs 54 to Rs 2,893 per barrel as speculators trimmed positions amid a weak global trend.
At the Multi Commodity Exchange, crude oil for delivery in January fell by Rs 54, or 1.57%, to Rs 2,893 per barrel in 1,774 lots.
Besides, oil for February delivery moved down by Rs 45, or 1.50%, to Rs 2,953 per barrel in 995 lots.
Meanwhile, West Texas Intermediate crude for February delivery shed 80 cents to $47.68, while Brent crude for February delivery slid 34 cents to $48.35 a barrel in late afternoon London deals yesterday.
At the Multi Commodity Exchange, crude oil for delivery in January fell by Rs 54, or 1.57%, to Rs 2,893 per barrel in 1,774 lots.
Besides, oil for February delivery moved down by Rs 45, or 1.50%, to Rs 2,953 per barrel in 995 lots.
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Analysts said the fall in crude prices at futures trade was primarily after it fell in overseas market as dealers eyed weak demand, abundant global crude supplies and the uncertain world economic outlook.
Meanwhile, West Texas Intermediate crude for February delivery shed 80 cents to $47.68, while Brent crude for February delivery slid 34 cents to $48.35 a barrel in late afternoon London deals yesterday.