Crude Oil Futures Soften By 0.46%

Crude oil futures declined by 0.46 percent to Rs 3,888 per barrel as speculators cut bets to take profits off the table despite strong global cues.

At the Multi Commodity Exchange, crude oil for delivery in February contracts fell by Rs 18, or 0.46 percent, to Rs 3,888 per barrel with a business turnover of 14,041 lots.

Analysts said domestic sentiments turned weak despite oil prices rose in global markets and on account of profit-booking by speculators at current levels.

However, globally, West Texas Intermediate (WTI) crude oil strengthened by 0.70 percent to $54.61 a barrel, while Brent, the international benchmark, rose 0.86 percent to $62.23 a barrel.

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