Crude oil contracts for July delivery traded lower by Rs 35, or 0.88 per cent, at Rs 3,943 per barrel.
New Delhi: Crude oil futures fell 0.88 per cent to Rs 3,943 per barrel on Tuesday in line with weak trends in overseas markets.
Crude oil contracts for July delivery traded lower by Rs 35, or 0.88 per cent, at Rs 3,943 per barrel with a business volume of 21,587 lots on Multi Commodity Exchange (MCX).
Analysts said fall in oil prices was mostly in tune with a weak trend in global market, where it slipped due to a jump in US crude inventories amid a slackening demand, say reports.
Meanwhile, West Texas Intermediate was down 0.36 per cent to USD 57.45, while global benchmark Brent was down 0.23 per cent to USD 63.96 a barrel.