Crude oil futures fell 0.8 per cent to Rs 5,343 per barrel today, as speculators offloaded their positions in tandem with a weakening global trend.
At the Multi Commodity Exchange, the oil for delivery in March moved down by Rs 43 or 0.8 per cent to Rs 5,343 per barrel with a trading volume of 2,526 lots. In a similar fashion, crude for April contract shed Rs 40 or 0.74 per cent to Rs 5,400 per barrel in 301 lots.
Marketmen said trading sentiment in crude futures turned weak after it dropped in the Asian trade amid concerns that rising prices could affect global economic growth.
Meanwhile, New York’s main contract for delivery in April, was down 61 cents to $107.95 in morning trade.