Crude oil futures decline on low demand

New Delhi: Crude oil futures on Thursday fell by 0.77 per cent to Rs 2,981 per barrel as participants reduced their positions on low demand. On the Multi Commodity Exchange, crude oil for October delivery eased by Rs 23, or 0.77 per cent, to Rs 2,981 per barrel with a business volume of 2,888 lots.

Globally, West Texas Intermediate crude oil was trading 1.07 per cent lower at USD 40.60 per barrel, while Brent crude was quoting 1.06 per cent lower at USD 42.86 per barrel in New York.