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The Economic Times

Crude oil futures slip on domestic cues

Crude oil futures on Monday fell by Rs 2 to Rs 4,414 per barrel after participants reduced positions despite the oil gaining overseas.

On the Multi Commodity Exchange, crude oil for January delivery dropped by Rs 2, or 0.05 per cent, to Rs 4,414 per barrel with a business volume of 14,697 lots.

Crude oil for February delivery was quoting lower by Re 1, or 0.02 per cent, at Rs 4,412 per barrel with an open interest of 377 lots.

Analysts said the fall in crude oil futures was mostly due to trimming of positions by traders amid weak spot demand.

Globally, West Texas Intermediate crude oil was trading 0.15 per cent higher at $61.81 per barrel.

Meanwhile, Brent Crude, the international benchmark, gained 0.31 per cent to trade at $68.37 per barrel in New York.
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