New Delhi: Crude oil futures Wednesday plummeted 0.59 per cent to Rs 1,858 per barrel as participants trimmed their positions in line with weak trend overseas.
On the Multi Commodity Exchange, crude oil for May delivery fell by Rs 11, or 0.59 per cent, to Rs 1,858 per barrel with a business volume of 7,364 lots.
Crude oil for June delivery was quoting lower by Rs 7, or 0.34 per cent, at Rs 2,039 per barrel with an open interest of 1,169 lots.
Analysts said the fall in crude oil futures was mostly due to trimming of positions by participants amid low demand.
Globally, West Texas Intermediate crude oil fell 1.02 per cent to USD 24.31 per barrel.
Meanwhile, Brent crude futures contract slipped 0.23 per cent to USD 30.90 per barrel in New York.
(PTI)