Crude oil futures fell by Rs 59 to Rs 3,326 per barrel Wednesday as speculators off-loaded their bets amid a weak trend overseas.
Marketmen said trading sentiment was dampened in futures trade here after oil prices retreated in the global market on deepening sense of global economic gloom and rising inventory, say reports.
Besides, profit-booking by participants weighed on the prices, they added.
At the Multi Commodity Exchange, crude for delivery in January was trading down by Rs 59, or 1.74 per cent, to Rs 3,326 per barrel in 29,100 lots.
The oil for February delivery, too, fell by Rs 53, or 1.55 per cent, to Rs 3,368 per barrel in volume of 443 lots.
On Tuesday, brent crude, the international benchmark, dropped to USD 57.98 a barrel, a fall of 2.73 per cent, while West Texas Intermediate (WTI) dropped below USD 47 per barrel.
Disclaimer: No Business Standard Journalist was involved in creation of this content
