Crude oil futures drop on low demand

Brent crude was quoting 0.90 % down at $62.59 per barrel in New York

Crude oil futures on Thursday fell 0.79 per cent to Rs 4,409 per barrel as participants reduced their positions on low demand.

Read more: Oil prices rise on stronger economic outlook, US stockpile draw

On the Multi Commodity Exchange, crude oil for April delivery eased by Rs 35, or 0.79 per cent, to Rs 4,409 per barrel with a business volume of 5,938 lots.

However, West Texas Intermediate crude oil was trading 0.99 per cent lower at $59.18 per barrel, while Brent crude was quoting 0.90 per cent down at $62.59 per barrel in New York.