Crude oil futures on Tuesday fell by Rs 12 to Rs 4,120 per barrel after participants reduced positions despite the oil gaining overseas.
On the Multi Commodity Exchange, crude oil for January delivery dropped by Rs 12, or 0.29 per cent, to Rs 4,120 per barrel with a business volume of 25,638 lots.
Crude oil for February delivery was quoting lower by Rs 9, or 0.22 per cent, at Rs 4,135 per barrel with an open interest of 1,661 lots.
Analysts said the fall in crude oil futures was mostly due to trimming of positions by traders amid weak spot demand.
Globally, West Texas Intermediate crude oil was trading 0.17 per cent higher at USD 58.18 per barrel.
Meanwhile, Brent Crude, the international benchmark, gained 0.26 per cent to trade at USD 64.37 per barrel in New York.
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