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Crude oil futures fell 0.51 per cent to Rs 2,757 per barrel today, in line with a weak trend in Asian trade, as speculators cut down their bets.
Crude oil for delivery in November was trading lower by Rs 14 or 0.51 per cent at Rs 2,757 per barrel with a business volume of 3,818 lots at the Multi Commodity Exchange (MCX).
Also, oil prices for December delivery was trading Rs 10 or 0.35 per cent down at Rs 2,866 per barrel with a business volume of 461 lots.
Analysts said the fall in crude oil futures is mostly in tune with a weak trend in Asian trade where it remained under pressure today after a huge jump in US crude inventories reinforced projections that a supply glut will persist well into next year.
Meanwhile, West Texas Intermediate crude for December delivery fell 24 cents to $41.51, while Brent for December delivery was trading four cents higher at $44.10 a barrel in Asian trade on the New York Mercantile Exchange.
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