Crude oil futures decline on low demand

NEW DELHI: Crude oil futures on Tuesday fell by 0.7 per cent to Rs 4,420 per barrel, as participants reduced their positions on low demand.

On the Multi Commodity Exchange, crude oil for March delivery eased by Rs 31, or 0.7 per cent, to Rs 4,420 per barrel with a business volume of 4,403 lots.

West Texas Intermediate crude oil was trading 1.17 per cent lower at USD 59.93 per barrel, while Brent crude was quoting 1.21 per cent down at USD 62.92 per barrel in New York.