Continuing its slide, crude oil futures declined by another 1.78 per cent to Rs 3,534 per barrel today in line with a weak trend in Asian trade.
At the Multi Commodity Exchange, crude oil for delivery in December was trading down by Rs 64, or 1.78 per cent, at Rs 3,534 per barrel, with a business volume of 4,998 lots.
Similarly, the oil prices for January 2015 contracts moved down by Rs 62, or 1.70 per cent, to Rs 3,589 per barrel, with a business volume of 1,285 lots.
Marketmen said the fall in crude oil futures was mostly in tandem with a weak trend in Asian trade where it sank further to new multi-year lows today, with analysts weighing the possible political and economic fallout in oil-producing countries with little respite in the selling.
Meanwhile, West Texas Intermediate crude oil for delivery in January was down by 24 cents at $55.67 a barrel, while Brent for January delivery eased 22 cents to $60.84 a barrel in late-morning trade on the New York Mercantile Exchange, both contracts at levels last seen since mid-2009.