Crude oil futures prices dropped by Rs 46, or 1.19 per cent, to Rs 3,804 per barrel today, as speculators reduced their positions in tandem with a weakening global trend.
At the Multi Commodity Exchange platform, crude oil for delivery in March dropped by Rs 46, or 1.19 per cent, to Rs 3,804 per barrel, with a business volume of just one lot.
Similarly, the oil for delivery in October fell by Rs 31, or 0.85 per cent, to Rs 3,634 per barrel, with a business turnover of 39 lots.
Marketmen said positions reduced by the speculators amid weakening global trend, mainly pulled down crude oil futures prices.
Meanwhile, New York's main contract, crude for November delivery eased 13 cents to $81.12 a barrel.
