Crude oil prices fell by 0.42% to Rs 4,078 per barrel in futures trade today as speculators reduced their holdings amid a weakening trend overseas ahead of the release of a key US economic report.
At the Multi Commodity Exchange, September crude oil fell by Rs 42, or 0.42%, to Rs 4,078 per barrel, with a trading volume of 1,765 lots.
The October contract lost Rs 15, or 0.36%, to Rs 4,107 per barrel, with a turnover of 128 lots.
Analysts said the fall in crude oil prices in futures trade was mostly in line with a weakening trend in Asian markets, as investors awaited a key jobs report from the US later as evidence about the strength of the American economy's recovery.
Meanwhile, New York's main contract crude for October delivery fell by 2 cents to $88.91 a barrel in the Asian region today.