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Crude oil futures were trading lower during afternoon trade in the domestic market on Wednesday as investors and speculators remained on the sidelines in the energy commodity after data overnight showed a build-up in the US crude inventory, inspite of efforts by the OPEC and other producers to cut supply glut. The American Petroleum Institute (API) estimated that the US crude stockpiles had surged 14.2 million barrels last week. 

However, if the US Energy Information Administration (EIA) data due today confirms the stockpile surge, it will be the largest build since October. At the MCX, crude oil futures for February 2017 contract is trading at Rs 3487 per barrel, down by 0.37 per cent, after opening at Rs 3488, against a previous close of Rs 3500. It touched the intra-day low of Rs 3476.