Crude oil futures fall on global cues
On the Multi Commodity Exchange, crude oil for delivery in August contracts fell by Rs 18 to Rs 3,873 per barrel.
![Though Dubai depends less on oil income, fluctuations in crude oil prices have affected all sectors of its economy. The slowdown took its toll on the small and unorganised sectors in the form of unpaid outstanding dues for companies, unpaid wages for workers and large scale job losses. Though Dubai depends less on oil income, fluctuations in crude oil prices have affected all sectors of its economy. The slowdown took its toll on the small and unorganised sectors in the form of unpaid outstanding dues for companies, unpaid wages for workers and large scale job losses.](https://s3.ap-southeast-1.amazonaws.com/images.asianage.com/images/aa-Cover-6fdak0ar1lvlr0bp4bjb2h40i3-20180702051152.Medi.jpeg)
On the Multi Commodity Exchange, crude oil contracts for delivery in May gained Rs 48, or 1.13 per cent, to Rs 4,312 per barrel with a business turnover of 17,678 lots.
New Delhi: Crude oil futures Monday declined 0.46 per cent to Rs 3,873 per barrel as speculators cut bets to book profits amid weak global cues.
On the Multi Commodity Exchange, crude oil for delivery in August contracts fell by Rs 18, or 0.46 per cent, to Rs 3,873 per barrel with a business turnover of 29,110 lots.
Analysts said trading sentiments turned weak after prices eased in global markets and profit-booking by speculators mainly exerted pressure on prices.
Globally, West Texas Intermediate crude oil was down 1.24 per cent to USD 54.97 a barrel, while brent, the international benchmark also shed 1.36 per cent to USD 61.05 a barrel.
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