Crude oil futures slump on weak global cues

New Delhi: Crude oil futures on Monday dropped 3.58 per cent to Rs 2,640 per barrel as participants trimmed their positions on weak global cues. On the Multi Commodity Exchange, crude oil for June delivery fell by Rs 98, or 3.58 per cent, to Rs 2,640 per barrel with a business volume of 4,493 lots.

Crude oil for July delivery was quoting lower by Rs 88, or 3.17 per cent, at Rs 2,684 per barrel with an open interest of 381 lots.

Globally, West Texas Intermediate crude oil was trading down by 3.14 per cent at USD 35.12 per barrel.Meanwhile, Brent crude was trading 1.94 per cent lower at USD 37.98 per barrel in New York.