Crude oil futures fell sharply by 1.47% to Rs 5,363 per barrel today as speculators reduced positions amid a weakening trend overseas.
At the Multi Commodity Exchange, January contract fell by Rs 80, or 1.47%, to Rs 5,363 per barrel, with a trading volume of 19,307 lots.
The February contract lost Rs 77, or 1.41%, to Rs 5,385 per barrel, with a business turnover of 2,392 lots.
Analysts said fall in crude oil futures was mostly in line with a weakening trend in Asian trade as dealers booked profits and concerns over the European debt crisis and weaker US energy demand.
Meanwhile, the New York's main contract crude for February delivery fell by 44 cents to $101.37 a barrel in the Asian region today.
