Crude oil prices plunged 0.41 percent to Rs 4,622 per barrel on Wednesday on adequate supply amid weak global cues.
On the Multi Commodity Exchange, crude for delivery in May fell by Rs 19, or 0.41 percent, to trade at Rs 4,622 per barrel in a business turnover of 28,115 lots.
The fall in crude prices was mainly due to signs of adequate supply in global market despite the US move to impose sanctions on countries that buy Iranian oil, traders said.
Similarly, crude oil for delivery in June moved down by Rs 15, or 0.32 percent, to Rs 4,637 per barrel in 463 lots.
Meanwhile, West Texas Intermediate crude fell 0.62 percent to USD 65.89 per barrel, while Brent crude fell 0.48 percent to USD 74.15 per barrel on the New York Mercantile Exchange.
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