Crude oil futures decline on weak trend overseas
Marketmen said the fall in prices was mostly due to trimming of positions by traders in tandem with a weak trend overseas.
By : DC Correspondent
Update: 2019-09-06 08:04 GMT
New Delhi: Crude oil futures fell 1.2 per cent to Rs 4,043 per barrel on Friday after participants reduced positions amid a weak trend in global markets.
On the Multi Commodity Exchange, crude oil for delivery in September shed Rs 49, or 1.2 per cent, to Rs 4,043 per barrel with a business volume of 15,310 lots.
Marketmen said the fall in crude oil futures was mostly due to trimming of positions by traders in tandem with a weak trend overseas.
Meanwhile, West Texas Intermediate crude oil was trading down 0.07 per cent to USD 56.34.
Brent Crude, the international benchmark, fell 0.08 per cent to trade at USD 61 a barrel.