Crude oil futures fell 0.51 per cent to Rs 4,254 per barrel Thursday in line with weak trends in overseas markets. Crude oil for delivery in June contracts was trading lower by Rs 22, or 0.51 per cent, at Rs 4,254 per barrel with a business volume of 16,868 lots on Multi Commodity Exchange (MCX).
Analysts said fall in oil futures is mostly in tune with a weak trend in global market, where it slipped due to a jump in US crude inventories amid a slackening demand, say reports.
Meanwhile, West Texas Intermediate was down 0.88 per cent at USD 60.88, while global benchmark Brent was down 0.97 per cent at USD 70.30 a barrel. Read More
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