MUMBAI (Commodity Online): Crude Oil futures continued to trade down in the domestic futures market because of weak global cues triggered by ongoing fiscal crisis in Greece. The surprise repo rate hike by India’s Central Bank also impacted the crude oil prices.

MCX crude oil for April delivery is trading down Rs 19 at Rs 3670 per barrel. It may face a critical resistance around Rs 3680 with supports around Rs 3610 levels.

International oil futures fell down to as low as $ 80.05 per barrel in today's trade. The commodity has slipped almost 4% from its last weeks high of $ 83.21 hurt by sharp appreciation in the US dollar and low appetite for risky assets on Greece concerns.

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Crude oil April contracts on NYMEX closed last week at $80.68 with a loss of 0.7 percent. Prices traded lower and gave up the gains towards the end of last week as concerns over Greece came up. Speculation that Greece may not receive any European assistance and may go the IMF for help led prices to trade lower.

There are no major economic releases scheduled for the day. The expiry of Crude Oil April contracts on NMYEX may result in some volatility in the market.

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