Crude oil futures declined on Thursday, with prices falling by Rs 34 to Rs 5,955 per barrel. The decline was attributed to participants reducing positions amid weak spot demand.

On the Multi Commodity Exchange (MCX), crude oil for January delivery was down Rs 34, or 0.57%, trading at Rs 5,955 per barrel in 7,678 lots.

Globally, West Texas Intermediate (WTI) crude was trading 0.55% higher at USD 70.19 per barrel, while Brent crude was down 0.35% at USD 73.13 per barrel in New York.