Crude oil prices Thursday fell by another 1.20 per cent to Rs 4,040 per barrel as speculators indulged in reducing holdings amid a weakening trend overseas.
In futures trading at the Multi Commodity Exchange, crude for delivery in November fell further by Rs 49, or 1.20 per cent, to Rs 4,040 per barrel in a business volume of 418 lots.
Analysts said continuous off-loading of holdings by participants in line with a weakening trend in global crude, mainly weighed on crude prices at futures trade here.
The oil for delivery in December, too, lost Rs 45, or 1.09 per cent, to Rs 4,073 per barrel in 39 lots.
The West Texas Intermediate (WTI) crude fell 0.53 per cent to USD 55.95, while Brent crude, the international benchmark shed 0.47 per cent to USD 65.81 a barrel at the New York Mercantile Exchange.