Crude oil prices declined by Rs 20 to Rs 5,013 per barrel in futures market today as speculators indulged in off-loading their positions, tracking a weak trend in overseas markets.
At the Multi Commodity Exchange, November crude oil fell by Rs 20, or 0.40%, to Rs 5,013 per barrel, with a business turnover of 8,090 lots.
The December contract lost Rs 17, or 0.34%, to Rs 5,012 per barrel, with a business turnover of 2,936 lots.
Market analysts said the fall in crude oil prices at futures trade was mostly due to a weak trend in Asia amid forecasts of a stockpile rise.
Meanwhile, crude oil prices for delivery in December fell by 72 cents to $98.65 per barrel on the New York Mercantile Exchange.
