Business

Crude oil futures slip by Rs 59 at Rs 4,034 per barrel

Crude oil futures on Friday fell by Rs 59 to Rs 4,034 per barrel after participants reduced positions, tracking a subdued trend in global markets.

On the Multi Commodity Exchange, crude oil prices for November delivery dropped by Rs 59, or 1.44 percent, to Rs 4,034 per barrel with a business volume of 26,575 lots.

Similarly, crude oil for December delivery was quoting lower by Rs 53, or 1.29 percent, at Rs 4,048 per barrel with an open interest of 673 lots.

The fall in crude oil futures was mostly due to trimming of positions by traders in line with weak global cues, analysts said.Globally, West Texas Intermediate crude oil was trading 0.49 percent lower at USD 56.87 per barrel, while international benchmark Brent Crude traded down by 0.32 percent at USD 62.09 per barrel in New York.

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