Crude oil futures fall 0.54 pc on weak global cues

Crude oil futures fell 0.54 per cent to Rs 3,329 per barrel today, in line with a weak trend in Asian trade, as speculators cut down bets.

Crude oil for delivery in current month was trading lower by Rs 18, or 0.54 per cent, at Rs 3,329 per barrel, with a business volume of 1,337 lots at the Multi Commodity Exchange (MCX).

Also, oil prices for November shed Rs 17, or 0.50 per cent, at Rs 3,359 per barrel, with a business volume of 85 lots.

Traders said the fall in crude oil futures is mostly in tandem with a weak trend in Asian trade and profit-booking at current levels by speculators.
 

Meanwhile, West Texas Intermediate fell 0.53 per cent, to USD 51.03 and Brent, used to price international oils, was trading 0.54 per cent down at USD 56.63 a barrel.