Crude oil futures prices fell by Rs 24 to Rs 4,800 per barrel today as speculators reduced their holdings on the back of a weakening global trend.
At the Multi Commodity Exchange, crude oil for delivery in May contract fell by Rs 24, or 0.50 per cent, to Rs 4,800 per barrel, with a business turnover of 17 lots.
Likewise, the oil for delivery in April declined by Rs 22, or 0.46 per cent, to Rs 4,748 per barrel, with business volume of 37 lots.
Market analysts said fresh selling by speculators in line with weakening trend in overseas markets mainly led to fall in crude oil futures prices.
Meanwhile, crude oil for May delivery declined 64 cents to $105.11 a barrel in New York.
