Crude oil futures slump on weak global cues

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Crude oil futures on Friday shed 5.27 per cent to Rs 2,428 per barrel as participants trimmed their positions on weak global cues.

On the Multi Commodity Exchange, crude oil for June delivery fell by Rs 135, or 5.27 per cent, to Rs 2,428 per barrel with a business volume of 5,496 lots.

Crude oil for July delivery was quoting lower by Rs 128, or 4.87 per cent, at Rs 2,499 per barrel with an open interest of 185 lots.

Globally, West Texas Intermediate crude oil was trading down by 5.10 per cent at USD 32.19 per barrel.

Meanwhile, Brent Crude futures was trading 3.69 per cent lower at USD 34.73 per barrel in New York.