Brent Crude decline to $68.99/bbl

Crude oil futures declined Rs 18 to Rs 5,768 per barrel as investors remained cautious ahead of the OPEC+ meeting later this week and awaited US inventory data for fresh cues.

Crude oil for the September contract decreased 0.31 per cent in a business volume of 11,497 lots. On the global front, West Texas Intermediate Crude Oil slipped 0.23 per cent to $65.44 per barrel, while Brent Crude traded 0.22 per cent down at $68.99 a barrel.

“Investors are closely tracking the upcoming OPEC+ meeting later this week, and the release of the US weekly crude oil inventory data could provide fresh direction for global crude oil prices,” said Rahul Kalantri, VP Commodities, Mehta Equities.