Crude oil futures drop on low demand

NEW DELHI: Crude oil futures on Thursday fell 0.47 per cent to Rs 4,642 per barrel as participants reduced their positions on low demand.

On the Multi Commodity Exchange, crude oil for March delivery eased by Rs 22, or 0.47 per cent, to Rs 4,642 per barrel with a business volume of 3,942 lots.

West Texas Intermediate crude oil was trading 1.05 per cent lower at USD 63.92 per barrel, while Brent crude was quoting 1.07 per cent down at USD 67.27 per barrel in New York.