Crude oil futures fell 1.42 per cent to Rs 3,338 per barrel today as speculators cut down their bets amid a mixed trend in Asian markets.
At the Multi Commodity Exchange, crude oil for delivery in June traded lower by Rs 48 or 1.42 per cent at Rs 3,338 per barrel in 6,155 lots.
Oil for far-month July delivery also moved down Rs 48 or 1.40 per cent to Rs 3,381 per barrel in 122 lots.
Trading sentiment dampened at the futures trade after oil prices were mixed in Asia as investors awaited manufacturing data from China ahead of an OPEC meeting on production caps, analysts said.
Meanwhile, West Texas Intermediate (WTI) crude for July delivery was up 24 cents at $49.57, while Brent crude for July was down 2 cents at $49.74 a barrel on the New York Mercantile Exchange.
Oil prices had dipped yesterday after comments from the US central bank head Janet Yellen suggested interest rates could rise soon if the world’s top economy continues to improve.