Amid a weak trend overseas, crude oil futures declined by 0.68% to Rs 4,943 per barrel today as participants reduced their positions.
At the Multi Commodity Exchange, the January contract shed Rs 34, or 0.68%, to Rs 4,943 per barrel, with a business volume of 8,735 lots.
The February contract moved down by Rs 34, or 0.68%, to Rs 4,995 per barrel, with a turnover of 618 lots.
Marketmen said the fall in crude oil futures prices was in line with a weakening trend in Asia with traders booking profits after a recent rally and as US politicians continue to wrangle over a deal to avert the fiscal cliff.
Meanwhile, crude oil for delivery in February was down 70 cents to $89.43 a barrel on the New York Mercantile Exchange.