Crude oil futures fall on weak global cues

Crude oil futures prices fell by 0.53 per cent today as traders indulged in reducing their positions in tandem with a weakening global trend. Crude oil for the current November contract fell by 0.53 per cent to Rs 3,583 per barrel, with a business turnover in 4,655 lots at the multi-commodity exchange (MCX).

The oil for delivery in December contract also declined by 0.47 per cent to Rs 3,623 per barrel with business turnover in 490 lots. Marketmen said emergence of selling on the back of weakening global trend mainly led to fall in crude oil prices at futures market.

Meanwhile, crude for December delivery was down 15 cents to $76.79 on the New York Exchange.