Crude oil futures dropped by Rs 15 to Rs 3,650 per barrel Monday as speculators off-loaded bets amid weak trend overseas.
Marketmen said trading sentiment was dampened in futures trade here after oil prices retreated in the global market due to ample stocks.
Besides, profit-booking by participants weighed, they added.
At the Multi Commodity Exchange, crude for delivery in February was trading down by Rs 15, or 0.41 per cent, to Rs 3,650 per barrel in 1,955 lots.
Crude for March delivery fell by Rs 28, or 0.75 per cent, to Rs 3,695 per barrel in a volume of 77 lots.
West Texas Intermediate (WTI) crude oil eased 1.45 per cent to USD 50.84 a barrel while global benchmark Brent crude was down 1.29 per cent at USD 59.70.
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