The MCX Crude Oil December futures have extended

The MCX Crude Oil December futures have extended losses for the fourth day in a row, as concerns about a global supply. Following almost 2 percent drop in the past two trading sessions, the energy futures started the day marginal in red at Rs 2,815 per barrel, but soon drifted lower, on the back of fresh selling.

The commodity plunged below Rs 2,800 to hit a low of Rs 2,798.

Now, MCX Crude Oil December future rates are down almost a percent (Rs 23) at Rs 2,798.

So far, the counter has witnessed huge trades of around 15,340-odd lots, while the open interest has jumped over 13 percent to 3,485-odd lots. In the global market, the NYMEX Crude Oil January 2016 futures are quoted at $ 41.63 - down 0.2 percent.