Crude Oil Futures Plummet to Rs 7,771 Per Barrel Amid Global Weakness

Crude oil futures fell sharply on Thursday, tracking weak global trends. On the Multi Commodity Exchange, crude oil futures for the September delivery slipped by Rs 126, or 1.6 per cent, to Rs 7,771 per barrel in a business turnover of 7,020 lots.

The decline marks another day of losses for the commodity, which is heavily influenced by global cues. The weak trend in crude oil prices may have significant implications for the Indian economy, which relies heavily on imports.