Crude oil futures declined by Rs 6 to Rs 4,462 per barrel in futures trade today as speculators off-loaded their positions, tracking weakening global trend.
Trading sentiments turned bearish as oil dropped from a three-day high in global markets as concerns that Europe's debt crisis will worsen countered better-than-forecast US retail sales and a drop in crude supplies in the world's biggest consumer of the commodity.
At the Multi Commodity Exchange, crude oil for delivery in July declined by Rs 6, or 0.13%, to Rs 4,462 per barrel, with a business volume of 1,897 lots.
Likewise, the oil for delivery in June shed Rs 2, or 0.05%, to Rs 4,417 per barrel, with an open interest of 12,773 lots. Traders said a weak trend in the global market led to the decline in crude oil futures prices.
Meanwhile, crude for July delivery traded lower by 31 cents to $99.06 a barrel on the New York Mercantile Exchange.
