Crude oil futures fall on weak Asian cues

• Posted in OilGas
• on July 18, 2018
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New Delhi, Jul 18 Crude oil futures fell by Rs 36 to Rs 4,633 per barrel today as speculators cut down bets amid weak cues from the Asian markets.

At the Multi Commodity Exchange, crude oil for delivery in July was trading lower by Rs 36, or 0.77 per cent, to Rs 4,633 per barrel in 1,245 lots.

Similarly, crude for delivery in August fell by Rs 33, or 0.71 per cent, to Rs 4,596 per barrel in a business volume of 167 lots.

Analysts said trading sentiment remained weak after oil prices fell further in Asia and profit-taking by participants.

Globally, West Texas Intermediate (WTI) crude oil was down 28 cents, or 0.42 per cent to USD 66.88 a barrel, while Brent too shed 36 cents, or 0.50 per cent, to USD 71.80 a barrel on the New York Mercantile Exchange. Darryl Morris Jersey

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