Crude oil futures plunge on weak global cues

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Crude oil futures on Monday plummeted 15.78 per cent to Rs 1,137 per barrel as participants trimmed their positions on weak global cues.
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New Delhi, Apr 27 (PTI) Crude oil futures on Monday plummeted 15.78 per cent to Rs 1,137 per barrel as participants trimmed their positions on weak global cues.

On the Multi Commodity Exchange, crude oil for May delivery fell by Rs 213, or 15.78 per cent, to Rs 1,137 per barrel with a business volume of 11,184 lots.

Crude oil for June delivery was quoting lower by Rs 178, or 10.43 per cent, at Rs 1,529 per barrel with an open interest of 1,126 lots.

Analysts said the fall in crude oil futures was mostly due to trimming of positions by participants amid low demand.

Globally, West Texas Intermediate crude oil was trading down by 13.22 per cent at USD 14.70 per barrel for the June contract.

Meanwhile, Brent Crude futures for June was trading 4.20 per cent lower at USD 20.54 per barrel in New York.

Source: PTI

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