Crude oil futures fall on weak global cues

Crude oil futures on Friday dropped 3.21 per cent to Rs 2,499 per barrel as participants trimmed their positions on weak global cues.

On the Multi Commodity Exchange, crude oil for June delivery fell by Rs 83, or 3.21 per cent, to Rs 2,499 per barrel with a business volume of 4,638 lots.

Crude oil for July delivery was quoting lower by Rs 82, or 3.12 per cent, at Rs 2,548 per barrel with an open interest of 221 lots.

Globally, West Texas Intermediate crude oil was trading down by 1.93 per cent at USD 33.06 per barrel.

Meanwhile, Brent crude futures was trading 1.39 per cent lower at USD 34.80 per barrel in New York.