Crude oil futures fell 1.06 per cent to Rs 3,828 per barrel today as speculators trimmed positions amid a weak trend in Asian trade.
Crude oil for delivery in June at the Multi Commodity Exchange traded down Rs 41 or 1.06 per cent at Rs 3,828 per barrel in 3,026 lots.
Similarly, the oil for July delivery moved down by Rs 39 or 1 per cent to Rs 3,871 per barrel in 518 lots.
Trading sentiment eased at the futures trade after crude oil prices fell in Asian trade today following gains at the end of last week, while there are still concerns about a global supply glut as OPEC prepares for a meeting where it is expected to maintain the output, analysts said.
Meanwhile, West Texas Intermediate (WTI) crude for July delivery eased 52 cents to $59.78, while Brent crude fell 51 cents to $65.05 a barrel at the New York Mercantile Exchange.
Crude oil prices jumped on Friday following a mixed US stockpiles report. The US government’s Department of Energy had revealed on Thursday a decline in crude oil and gasoline reserves — but also a rise in output that could aggravate the global oversupply.