New Delhi

Crude oil futures prices fell on Wednesday, tracking weak global cues and subdued market sentiment, according to trading data.

On the Multi Commodity Exchange (MCX), crude oil contracts for July delivery dropped by ₹63, or 0.9 per cent, to settle at ₹6,901 per barrel. The contracts recorded a trading volume of 5,109 lots.

Market analysts attributed the decline to selling pressure from participants who reduced their positions amid weak demand conditions in the physical market.

In international markets, benchmark crude prices also softened. West Texas Intermediate (WTI) crude was trading 0.93 per cent lower at USD 76.32 per barrel, while Brent crude slipped about 1.30 per cent to USD 0.99 per barrel in New York trading.

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Traders said overall sentiment remained cautious as global demand signals continued to weigh on oil prices.