Crude oil futures slip on profit-taking

Crude oil prices slipped by Rs 7 to Rs 3,756 per barrel in futures trade today, as speculators indulged in booking profits at existing higher levels amid fall in spot market demand.

At the Multi Commodity Exchange, crude oil for December month declined by Rs 7 or 0.19 per cent to Rs 3,756 per barrel, with a business turnover of 92 lots.

Similarly, the oil for delivery in January month also traded lower by Rs 5, or 0.13 per cent to Rs 3,804 per barrel in 6 lots.

Analysts said that besides profit-bookings by speculators at existing higher levels, fall in demand in the spot market also led to the fall in crude oil prices at futures trade.