Crude oil prices dipped by Rs 25 or 0.72 per cent to Rs 3,435 per barrel in futures trade today, as traders offloaded their holdings after reports of a weakening global trend.
Trading sentiment turned bearish after oil prices fell below $76 a barrel in Asia.
At the Multi Commodity Exchange, crude oil for May-month contract dipped by Rs 25, or 0.72 per cent to Rs 3,435 per barrel, with an open interest of 26,789 lots.
The oil for delivery in June contract also plunged by Rs 18, or 0.50 per cent to Rs 3,616 per barrel, with a trading volume of 5,860 lots.
Marketmen said, offloading by traders on the back of a weakening global trend mainly pulled down crude oil prices at futures market.
Meanwhile, crude for June delivery went down by 45 cents to $75.92 a barrel on the New York Mercantile Exchange.