Crude oil futures fall on spot demand

New Delhi, Feb 10 () Crude oil futures on Monday fell by Rs 20 to Rs 3,597 per barrel after participants reduced positions even as the oil gained in overseas market.

On the Multi Commodity Exchange, crude oil for February delivery dropped by Rs 20, or 0.55 per cent, to Rs 3,597 per barrel with a business volume of 30,080 lots.

Crude oil for March delivery was quoting lower by Rs 17, or 0.47 per cent, at Rs 3,631 per barrel with an open interest of 975 lots.

Analysts said the fall in crude oil futures was mostly due to trimming of positions by traders amid weak spot demand.

Globally, West Texas Intermediate crude oil traded 0.10 per cent up at USD 50.37 per barrel.

Brent Crude, the international benchmark, rose 0.07 per cent to trade at USD 54.51 per barrel in New York. VHP SHWSHW