Crude oil futures prices slipped by Rs 11 to Rs 4,570 per barrel today as speculators reducing their position, driven by a weakening global trend.
Trading sentiments turned bearish after oil dropped from the highest close in 29 months on the New York Mercantile Exchange.
At the Multi Commodity Exchange, crude oil for April contract fell by Rs 25, or 0.53 per cent, to Rs 4,650 per barrel, with business turnover of three lots.
Likewise, the oil for delivery in March slipped by Rs 11, or 0.24 per cent, to Rs 4,570 per barrel, with business volume of 20 lots.
Analysts said fresh selling by speculators in tandem with weakening global trend mainly led to decline in crude oil futures price.
Meanwhile, crude oil for April futures fell 67 cents to $101.56 a barrel on the New York Mercantile Exchange.