Crude oil prices fell by Rs 55 or 1.60 per cent to Rs 3,385 per barrel in futures trade today on offloading by speculators amid weak global trend.
Trading sentiment turned bearish after oil prices dropped below $70 a barrel in the Asian trade as the euro weakened further against the US dollar.
At the Multi Commodity Exchange counter, crude oil for June-month contract fell Rs 55, or 1.60 per cent to Rs 3,385 per barrel, with an open interest of 8,395 lots.
The oil for delivery in May also declined by Rs 47, or 1.44 per cent to Rs 3,217 per barrel, with an open interest of 29,518 lots.
Marketmen said fresh selling by traders in tandem with a weakening global trend pulled down the crude oil prices at futures trade.
Meanwhile, crude for delivery in June tumbled to an intra-day low of $69.82 a barrel in New York.
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