Crude Oil Declines 0.92% On Subdued Global Cues

Crude oil prices fell 0.92 per cent to Rs 3,968 per barrel in futures trading Wednesday as speculators reduced bets amid a weakening trend overseas.

At the Multi Commodity Exchange, crude oil for delivery in March fell by Rs 37, or 0.92 per cent, to Rs 3,968 per barrel in a business volume of 15,825 lots.

Analysts said continuous off-loading of holdings by participants in line with a weakening trend in global crude, mainly weighed on crude prices at futures trade here.

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