New Delhi: Crude oil futures fell 1.92% on Friday to Rs 3,365 a barrel as participants adjusted their positions in line with the weak trend overseas.
On the Multi Commodity Exchange, crude oil for delivery in March fell by Rs 66 or 1.92 percent, to Rs 3.365 per barrel with a business volume of 31,783 lots.
Crude oil for delivery in April was down 67 rupees, or 1.93%, to 3,396 rupees per barrel with open interest of 1,097 lots.
Globally, West Texas Intermediate crude oil fell 1.11% to $ 45.39 per barrel and Brent Crude fell 1.12% to $ 49.43 per barrel at New York.
Analysts said the decline in crude oil futures was mainly due to the reduction in participants’ positions against a backdrop of weak demand.
