Crude oil prices fell by 0.13 per cent on Friday at the domestic markets after euro zone’s economy contracted for the third consecutive quarter in the three months ended December 31, as the region fell deeper into recession which in turn reduced the demand outlook for the commodity. Eurostat said that the euro zone’s gross domestic product shrank 0.6 per cent in the fourth quarter, compared to expectations for a 0.4 per cent decline. At the MCX, crude oil futures for February 2013 contract were trading at Rs. 5,248 per barrel, down by 0.13 per cent, after opening at Rs. 5,254 against the previous closing price of Rs. 5,255.
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