Crude oil futures decline amid weak global cues

New Delhi: Crude oil price fell by Rs 63 to Rs 7,061 per barrel in the futures trade on Wednesday amid weak global trends.

On the Multi Commodity Exchange, crude oil futures for the July delivery slipped by Rs 63, or 0.88 per cent, to Rs 7,061 per barrel in a business turnover of 4,004 lots.

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Analysts said the prices fell after participants offloaded their holdings amid weak demand in the spot market.

Globally, West Texas Intermediate crude oil was trading 1.04 per cent lower at USD 75.26 per barrel, while Brent Crude fell 0.92 per cent to USD 78.23 per barrel in New York.

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