Crude oil futures fall 0.99% on profit-booking

Crude oil futures slipped 0.99 per cent to Rs 3,408 per barrel Tuesday after participants preferred to book profits amid a firm trend overseas.

Crude for delivery in January was trading lower by Rs 34, or 0.99 per cent, at Rs 3,408 per barrel, with a business volume of 8,756 lots at the Multi Commodity Exchange (MCX).

Analysts said the fall in prices is mostly due to profit-booking at current levels by participants but a firm trend overseas where it rebounded from 1-1/2 year lows reached in December, caped the fall.

The US benchmark West Texas Intermediate rose 0.21 per cent to USD 48.62, while Brent was up 0.23 per cent at USD 57.46 a barrel.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)