Crude oil prices fell by 0.38% to Rs 4,237 per barrel in futures trade today as speculators reduced their holdings amid a weak trend overseas on data showing weak demand in the US.
At the Multi Commodity Exchange, September crude oil fell by Rs 16, or 0.38%, to Rs 4,237 per barrel, with a trading volume of 3,000 lots.
The October contract lost Rs 14, or 0.33%, to Rs 4,253 per barrel, with a turnover of 450 lots.
Analysts said the fall in crude oil prices in futures trade was mostly in line with a weak trend in Asian markets, on data showing subdued demand in the US, the world's biggest oil consuming nation and fears about the Greek debt crisis.
Meanwhile, New York's main contract crude for October delivery fell by 43 cents to $88.48 a barrel in the Asian region today.
