Crude oil futures fall by Rs 11 to Rs 4,390 per barrel after participants reduced positions, tracking a subdued trend in global markets. On the Multi Commodity Exchange, crude oil for January delivery dropped by Rs 11, or 0.25 per cent, to Rs 4,390 per barrel with a business volume of 18,029 lot. Crude oil for February delivery was quoting lower by Rs 9, or 0.2 per cent, at Rs 4,388 per barrel with an open interest of 436 lots.
Oil prices fall on the final day of the year 2019, heading for their biggest annual rise since 2016, supported by a thaw in the prolonged US-China trade dispute and supply cuts. Brent crude futures for March delivery, the new front-month contract, were at $ 66.52 a barrel, down 15 cents, or 0.2 per cent, by 0716 GMT. Brent for February delivery closed on Monday at $ 68.44 a barrel. US West Texas Intermediate (WTI) crude for February was down 19 cents, or 0.3 per cent, at $61.49 per barrel. However, Brent Crude, the international benchmark, gained 0.41 per cent to trade at $ 68.44 per barrel in New York.
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