Crude oil futures decline to 3.03% on low demand

Crude oil futures fell 3.03 per cent to Rs 2,850 per barrel on Monday as participants reduced their positions on low demand.

On the Multi Commodity Exchange, crude oil for November delivery eased by Rs 89, or 3.03 per cent, to Rs 2,850 per barrel with a business volume of 2,870 lots.

Globally, West Texas Intermediate crude oil fell 3.39 per cent to USD 38.50 per barrel, while Brent crude was trading 3.18 per cent lower at USD 40.44 per barrel in New York.