Crude oil futures prices today fell by 0.50% to Rs 4,984 per barrel, as speculators offloaded positions in tandem with a weakening global trend.
On the Multi Commodity Exchange, the oil for delivery in March moved down by Rs 25, or 0.50%, to Rs 4,984 per barrel, with a trading volume of 763 lots.
In a similar fashion, crude for February contract shed Rs 22, or 0.44%, to Rs 4,957 per barrel in 10,687 lots.
Marketmen said the trading sentiment in crude oil at futures trade turned bearish after crude dropped in Asian trade amid renewed concerns over Europe's ability to tackle with its towering debt crisis.
Meanwhile, New York's main contract, West Texas Intermediate for delivery in March, was down 22 cents to $98.11 in morning trade.