Crude oil futures fell Rs 19 to Rs 5,252 per barrel on Wednesday as speculators reduced their bets owing to a weak global trend.

At the Multi Commodity Exchange, crude for delivery in October dropped Rs 19 or 0.36 per cent to Rs 5,252 per barrel in 1,058 lots. Similarly, the oil for delivery in November moved down Rs 17 or 0.32 per cent to Rs 5,259 per barrel in 37 lots.

Marketmen said trading sentiment dampened at the futures trade as crude prices eased in global market after rising to its highest in nearly four years on Tuesday.

According to an industry report, US crude stockpiles unexpectedly climbed last week. Crude inventories rose 2.9 million barrels in the week to September 21 to 400 million, compared with analyst expectations for a decrease of 1.3 million barrels, the American Petroleum Institute said.

Meanwhile, West Texas Intermediate (WTI) crude fell 16 cents, or 0.22 per cent, to $72.12, while Brent crude slipped 11 cents, or 0.14 per cent, to $81.15 per barrel on the New York Mercantile Exchange.

comment COMMENT NOW