Crude oil futures drifted lower by Rs 3 to Rs 4,099 per barrel on Wednesday as speculators reduced their exposure amid a weak trend overseas.
At Multi Commodity Exchange, crude for delivery in April shed Rs 3, or 0.07 percent, to Rs 4,099 per barrel in a business turnover of 10,653 lots.
Marketmen said the fall in crude prices at futures market was mostly in sync with a weak trend overseas weighed down by economic growth concerns that dampened the outlook for fuel consumption.
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Meanwhile, West Texas Intermediate (WTI) crude traded 0.22 percent lower at USD 59.16, while Brent crude fell 0.04 percent, to USD 67.58 per barrel on the New York Mercantile Exchange Wednesday.
