Crude oil futures on Wednesday fell by Rs 21 to Rs 4,117 per barrel after participants reduced positions tracking a subdued demand at the spot market.
On the Multi Commodity Exchange, crude oil for January delivery dropped by Rs 21, or 0.51 per cent, to Rs 4,117 per barrel with a business volume of 19,641 lots.
Crude oil for February delivery was quoting lower by Rs 19, or 0.46 per cent, at Rs 4,134 per barrel with an open interest of 1,292 lots.
Analysts said the fall in crude oil futures was mostly due to trimming of positions by traders amid weak spot demand.
Globally, West Texas Intermediate crude oil traded 0.27 per cent lower at $58.07 per barrel.
Brent Crude, the international benchmark, dropped 0.26 per cent to trade at $64.32 per barrel in New York.
Source: Economic Times
