Crude oil futures fall 5.77 pc on weak global cues

New Delhi, Apr 1 () Crude oil futures on Wednesday plummeted 5.77 per cent to Rs 1,583 per barrel as participants trimmed their positions in line with weak trend overseas.On the Multi Commodity Exchange, crude oil for April delivery fell by Rs 97, or 5.77 per cent, to Rs 1,583 per barrel with a business volume of 33,767 lots.Crude oil for May delivery was quoting lower by Rs 85, or 4.3 per cent, to Rs 1,892 per barrel with an open interest of 544 lots. Analysts said the fall in crude oil futures was mostly due to trimming of positions by participants amid low demand.Globally, West Texas Intermediate crude oil fell 0.34 per cent to USD 20.41 per barrel and, Brent Crude slipped 0.09 per cent to USD 22.74 per barrel in New York. VHP SHWSHW