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Crude oil futures for April fell by Rs 98 or 1.97%, to Rs 4,877 per barrel in 8,406 lots.
At the Multi Commodity Exchange (MCX), the May contract moved down by Rs 97, or 1.93%, to Rs 4,921 per barrel in 7,392 lots.
Prices fell as speculators reduced exposures amid weakening trend in Asian trade.
Trading sentiment remained weak due to fall in Asian trade after China's economic growth for the first quarter came in below expectations.
On the New York Mercantile Exchange (NYMEX), the May contract shed 80 cents to $90.49 a barrel.
