Crude oil futures prices today fell 1.97 per cent to Rs 4,877 per barrel after speculators reduced their exposure amid a weakening trend in the Asian trade.
At the Multi Commodity Exchange, crude oil for delivery in April fell Rs 98 or 1.97 per cent to Rs 4,877 per barrel in 8,406 lots. Similarly, the oil for May delivery moved down by Rs 97 or 1.93 per cent to Rs 4,921 per barrel in 7,392 lots.
Trading sentiment remained weak at the futures trade as crude oil prices declined in the Asian trade after China’s economic growth for the first quarter came in below expectations, analysts said.
Meanwhile, crude oil for May delivery shed 80 cents to $90.49 a barrel at the New York Mercantile Exchange.