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Crude oil futures fell 2.18 per cent to Rs 2,997 per barrel today amid a weak trend in Asian markets.
On the Multi Commodity Exchange, crude oil for delivery in February fell Rs 67 or 2.18 per cent to Rs 2,997 per barrel in 17,702 lots.
Similarly, the oil for March contract also shed Rs 65 or 2.07 per cent to Rs 3,079 per barrel in 1,476 lots.
Trading sentiment was weak in line with a subdued Asian trend and concerns over supply glut after an official weekly report from the Energy Information Administration (EIA) showed crude stockpiles in the US surged more-than-expected last week.
At global level, West Texas Intermediate crude for March delivery was down by 4.6 cents to $48.45 per barrel, while Brent crude for March contract eased 14 cents to $54.02 per barrel in late morning trade on the New York Mercantile Exchange.
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