Tracking a weak trend in overseas markets, crude oil prices traded lower by Rs 6 to Rs 5,447 per barrel in futures trade today as speculators offloaded their positions.
At the Multi Commodity Exchange, May crude oil declined by Rs 6, or 0.11%, to Rs 5,447 per barrel, with a business turnover of 38 lots.
The April oil shed Rs 2, or 0.04%, to Rs 5,404 per barrel, with a business turnover of 1,136 lots.
Marketmen attributed the decline in crude oil futures to a weak global trend.
Meanwhile, crude for April delivery declined by 87 cents to $106.53 a barrel on the New York Mercantile Exchange.
