New Delhi, Dec 19 (PTI) Crude oil futures fell by 0.53 per cent to Rs 4,924 per barrel today as speculators reduced their positions amid a weakening trend overseas on euro zone debt worries.
At the Multi Commodity Exchange, prices of crude oil for December contract delivery fell by Rs 53, or 0.53 per cent, to Rs 4,924 per barrel, with a trading volume of 9,683 lots.
In a similar fashion, January contract crude lost Rs 21, or 0.42 per cent, to Rs 4,956 per barrel in 4,044 lots.
Analysts said the fall in crude oil futures was in line with a weakening trend in the Asia region on growing fears that Europe''s debt crisis will trigger a recession across the continent next year and undermine global oil demand.
Meanwhile, New York''s main contract, crude oil for January delivery, fell by 81 cents to USD 92.72 a barrel in the Asia region today.
