Brent crude slipped to $102.78/bbl

Crude oil prices declined by Rs 137 to Rs 8,734 per barrel in futures trade as signs of easing supply concerns emerged in the market amid geopolitical tensions.

Crude oil for the March delivery declined 1.54 per centin 5,244 lots. The April contract also dipped by Rs 98, or 1.11 per cent, to Rs 8,746 per barrel in 14,676 lots.

Analysts said crude oil prices remained volatile as markets weighed geopolitical risks against signs of easing supply concerns in the region.

In the overseas market, Brent Oil futures for the May delivery slipped 0.62 per cent to $102.78 per barrel, while West Texas Intermediate (WTI) crude for the same month contract dropped 1.56 per cent to $94.04 per barrel in New York.