Crude oil futures fall 0.37% on weak global cues

Crude oil futures fell 0.37 per cent to Rs 3,784 per barrel today, in line with a weak trend in Asian trade, as speculators cut down their bets.

Crude oil for delivery in December was trading lower by Rs 14, or 0.37 per cent, at Rs 3,784 per barrel, with a business volume of 1,361 lots at Multi Commodity Exchange (MCX).

Also, oil prices for January next year shed Rs 13, or 0.34 per cent, at Rs 3,794 per barrel, with a business volume of 17 lots.

Traders said the fall in crude oil futures is mostly in tandem with a weak trend in Asian trade today as investors locked in profits after recent gains.
 

Meanwhile, West Texas Intermediate fell 0.38 per cent, to USD 57.80 and Brent was trading 0.49 per cent down at USD 63.01 a barrel.