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Crude oil futures fell 0.45 per cent to Rs 3,128 per barrel today as speculators cut down their bets amid a weak trend in global markets.
At the Multi Commodity Exchange, crude oil for delivery in April traded lower by Rs 14 or 0.45 per cent at Rs 3,128 per barrel in 3,095 lots.
Oil for far-month May delivery also moved down Rs 11 or 0.35 per cent to Rs 3,177 per barrel in 34 lots.
Trading sentiment dampened at the futures trade after oil prices declined in overseas markets as rising US supplies offset the effect of output curbs by other producers, analysts said.
Meanwhile, West Texas Intermediate (WTI) crude was down 0.31 per cent at $47.82, while Brent crude shed 0.10 per cent to $50.75 a barrel on the New York Mercantile Exchange.
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