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.

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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.)