Crude oil futures decline on low demand

New Delhi: Crude oil futures fell 0.07 per cent to Rs 2,938 per barrel on Thursday as participants reduced their positions on low demand. On the Multi Commodity Exchange, crude oil for the September delivery fell Rs 2, or 0.07 per cent, to Rs 2,938 per barrel with a business volume of 4,159 lots.

Crude oil for the October delivery quoted lower by Rs 4, or 0.13 per cent, at Rs 2,969 per barrel with an open interest of 293 lots.

Globally, West Texas Intermediate crude oil was trading 0.72 per cent lower at USD 39.87 per barrel, while Brent crude was quoting 0.59 per cent lower at USD 41.97 per barrel in New York.