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Crude oil futures fell 0.97 per cent to Rs 3,165 per barrel today as speculators reduced positions amid a weak trend in global markets.
At the Multi Commodity Exchange, crude oil for delivery in March was trading down by Rs 31 or 0.97 per cent at Rs 3,165 per barrel in 3,406 lots.
Oil for April delivery also moved down Rs 26, or 0.80 per cent lower to Rs 3,219 per barrel in 1,229 lots.
Traders said trading sentiment dampened at the futures trade after oil prices dropped in global markets.
Meanwhile, West Texas Intermediate (WTI) crude was down 35 cents to $48.43, while Brent crude lost 24 cents to $51.52 a barrel on the New York Mercantile Exchange.
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