Crude oil prices fell by Rs 48 to Rs 4,308 per barrel in futures trade today as speculators reduced their holdings, tracking a weakening global trend.
At the Multi Commodity Exchange, crude oil for October delivery fell by Rs 48, or 1.10%, to Rs 4,308 per barrel, with a business volume of 3 lots.
June delivery lost Rs 25, or 0.84%, to Rs 4,124 per barrel, with an open interest for 46 lots.
Market analysts said reduced positions by speculators due to a weakening global trend mainly led to the fall in crude oil prices in futures trade.
Meanwhile, New York's main contract crude for July delivery fell by 69 cents to $92.32 a barrel.