Crude oil futures fell by Rs 28 to Rs 3,980 per barrel on Friday after participants reduced positions, tracking a passive trend in global markets.
On the Multi Commodity Exchange (MCX), crude oil for November delivery dropped by Rs 28, or 0.70 per cent, to Rs 3,980 per barrel in 21,499 lots.
Experts said that, the fall in crude oil futures was mostly due to trimming of positions by traders, in line with weak global cues. In the same way, crude oil for December delivery was quoting lower by Rs 29, or 0.72 per cent, at Rs 3,994 per barrel in 237 lots.
Globally, West Texas Intermediate crude oil was trading 0.43 per cent lower at USD 55.99 per barrel, while international benchmark Brent Crude was quoting lower by 0.37 per cent at USD 61.44 per barrel.
(With input from agencies)