Crude oil futures fall on sluggish demand

Crude oil futures on Thursday fell Rs 4 to Rs 4,001 per barrel as participants reduced positions tracking a weak trend in the spot market.

On the Multi Commodity Exchange, crude oil prices for November delivery dropped by Rs 4, or 0.07 per cent, to Rs 4,001 per barrel with a business volume of 163,60 lots.

Similarly, crude oil for December delivery was quoting lower by Rs 5, or 0.12 per cent, at Rs 4,016 per barrel with an open interest of 296 lots.

Globally, West Texas Intermediate crude oil was trading 0.02 per cent higher at USD 56.36 per barrel, while international benchmark Brent Crude traded flat at USD 61.74 per barrel in New York.