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Crude oil futures fell 1.94 per cent to Rs 3,190 per barrel today as speculators trimmed positions amid a weak trend in Asian markets.
On the Multi Commodity Exchange, crude oil for delivery in April shed Rs 63 or 1.94 per cent to Rs 3,190 per barrel in 5,281 lots.
The oil for May delivery fell Rs 64 or 1.9 per cent to Rs 3,305 per barrel in a volume of 217 lots.
Analysts said that the trading sentiment turned weak on a subdued trend in Asian markets as investors weighed the potential for disruptions in West Asian supplies caused by the Yemen crisis and a global crude glut.
West Texas Intermediate (WTI) crude oil for May delivery fell 83 cents to $50.60 and Brent crude for May delivery eased 75 cents to $58.44 a barrel in late-morning trade on the New York Mercantile Exchange.
Meanwhile, crude oil prices rose sharply over the past two days after a Saudi Arabia-led coalition bombed Houthi rebels in support of Yemen’s embattled President Abedrabbo Mansour Hadi.
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