Crude oil futures decline on low demand

Crude oil futures on Monday fell by 2.74 per cent to Rs 3,519 per barrel as participants reduced their positions on low demand.

On the Multi Commodity Exchange, crude oil for January delivery eased by Rs 99, or 2.74 per cent, to Rs 3,519 per barrel with a business volume of 1,213 lots.

Globally, West Texas Intermediate crude oil was trading 3.38 per cent lower at USD 47.44 per barrel, while Brent crude was quoting 3.20 per cent down at USD 50.59 per barrel in New York.