Tracking a weakening global trend, crude oil prices fell by Rs 39 to Rs 4,822 per barrel in futures trade today as speculators offloaded their positions.
At the Multi Commodity Exchange, crude oil for delivery in February fell by Rs 39, or 0.80%, to Rs 4,822 per barrel, with a business turnover of 27,741 lots.
March crude traded lower by the same margin to Rs 4,863 per barrel, with a business turnover of 2,381 lots.
Market analysts said speculators offloaded their position on the back of a weakening global trend, which mainly led to fall in crude oil futures prices.
Meanwhile, crude for March delivery was down one cent at $97.60 a barrel on the New York Mercantile Exchange.
