Crude oil futures fell Rs 24 to Rs 3,056 per barrel today as speculators offloaded positions amid a weak trend in Asian markets.
Trading sentiment turned weak in futures trade following a fall in crude oil prices in Asian markets, reversing sharp gains in the previous session, hit by a strong dollar and persistent concerns over a global supply glut.
At the Multi Commodity Exchange, crude oil for delivery in October dropped Rs 24, or 0.78 per cent, to Rs 3,056 per barrel in 4,864 lots.
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The oil for far-month November delivery fell Rs 24, or 0.77 per cent, to Rs 3,112 per barrel in a volume of 71 lots.
Meanwhile, West Texas Intermediate (WTI) crude oil for October, which expires at the end of the trading day, eased by 39 cents to USD 46.29 a barrel in late-morning trade after spiking 4.1 per cent at its close in New York yesterday.
Brent crude for November dipped 37 cents to USD 48.55 per barrel following a 3.1 per cent surge in London.