Crude oil prices fall in domestic futures market

NEWDELHI: Crude oil futures opened on a negative note and fell marginally by 0.71per cent at Rs 5,515 per barrel in the domestic futures market, taking cues fromweak international market.

At1015 hrs, far-month July contract slipped by 0.71 per cent at Rs 5,515 perbarrel at MCX counter. June month contract dipped by 0.61 per cent at Rs 5,523per barrel.

Meanwhile at NCDEXplatform, crude oil futures opened in red. June contract fell by 0.67 per centat Rs 5,523 per barrel. However, July delivery of crude oil slumped sharply by2.11 per cent at Rs 5,519 per barrel.

Globally, oil prices fellbelow 130 US dollar a barrel to touch one-week low in New york on speculationthat record fuel prices would reduce demand during the US driving season, oilexperts said.

Oil prices werealso pressured after the US dollar gained ground against the euro.