Crude oil futures plunge to Rs 3,533 per barrel

Crude oil futures fell Rs 57 to Rs 3,533 per barrel today as speculators offloaded bets amid a weak trend overseas.

Marketmen said trading sentiment dampened at the futures trade here after oil prices retreated in global market on industry data showing rise in US stockpiles.

At the Multi Commodity Exchange, crude oil for delivery in current month was trading down by Rs 57 or 1.59 per cent at Rs 3,533 per barrel in 1,863 lots.

The oil for January delivery fell Rs 55 or 1.50 per cent to Rs 3,606 per barrel in a volume of 145 lots.

West Texas Intermediate (WTI) crude oil eased 68 cents or 1.28 per cent to $52.30 a barrel, while global benchmark Brent crude was down 67 cents or 1.2 per cent at $55.05 per barrel.

Meanwhile, the US inventories rose by 4.68 million barrels last week, said the industry-funded American Petroleum Institute in a report.