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Crude oil futures slipped 0.35 per cent to Rs 2,869 per barrel today, in line with a weak trend in Asia, as traders cut down their exposure.
Crude oil for delivery in the current month fell Rs 10 or 0.35 per cent to Rs 2,869 per barrel with a business volume of 1,531 lots at the Multi Commodity Exchange (MCX).
Also, oil prices for July delivery moved down Rs 7 or 0.24 per cent to trade at Rs 2,898 per barrel with a business volume of 504 lots.
Analysts said the fall in crude oil futures is mostly in tune with a weak trend in Asian trade after a fourth weekly loss on speculation that a record expansion by US drillers will blunt OPEC-led efforts to rebalance an oversupplied market.
US benchmark West Texas Intermediate fell 19 cents to $44.55, while Brent was 19 cents lower at $47.19.
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