India's crude oil futures decline on low demand

Crude oil futures on Wednesday fell by 0.47 per cent to Rs 2,944 per barrel as participants reduced their positions on low demand.

On the Multi Commodity Exchange, crude oil for October delivery eased by Rs 14, or 0.47 per cent, to Rs 2,944 per barrel with a business volume of 3,534 lots.

Crude oil for November delivery was quoting lower by Rs 12, or 0.4 per cent, at Rs 2,978 per barrel with an open interest of 223 lots.

Globally, West Texas Intermediate crude oil was trading 0.25 per cent lower at $40.10 per barrel, while Brent crude was quoting 0.16 per cent lower at USD 42.38 per barrel in New York.