Brent Crude trading lower at $61.63/bbl

Crude oil fell Rs 17 to Rs 5,260 per barrel in the futures trade, amid weak global trends as oversupply concerns weighed on prices. Crude oil futures for February delivery slipped by 0.32 per cent in a business turnover of 2,946 lots.

Analysts said the prices fell after participants offloaded their holdings amid weak demand in the spot market. Globally, West Texas Intermediate crude oil was trading 0.31 per cent lower at $58.14 per barrel, while Brent Crude fell 0.21 per cent to $61.63 per barrel in New York.