Crude oil prices plunges by 1.12 pct amid weak trend overseas

Crude oil prices plunged 1.12 per cent to Rs 4,401 per barrel on Monday as speculators reduced bets amid a weak trend overseas. On the Multi Commodity Exchange, crude for delivery in April fell by Rs 50, or 1.12 per cent, to trade at Rs 4,401 per barrel in a business turnover of 23,067 lots.

Similarly, crude oil for delivery in May moved down by Rs 46, or 1.03 per cent, to Rs 4,430 per barrel in 2,919 lots. Meanwhile, West Texas Intermediate crude fell 0.28 per cent to USD 63.71 per barrel, while Brent crude fell 0.21 per cent to USD 71.40 per barrel on the New York Mercantile Exchange.