Crude Oil Futures Decline Amid Weak Global Cues
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Crude oil futures on the Multi Commodity Exchange fell by Rs 48 to Rs 5,245 per barrel on Monday, driven by weak global demand and offloading of holdings.
New Delhi, May 12 (PTI) Crude oil futures on Monday declined Rs 48 to Rs 5,245 per barrel as participants trimmed their positions tracking weak demand in the overseas market.
On the Multi Commodity Exchange, crude oil for June delivery declined Rs 48 or 0.92 per cent to Rs 5,245 per barrel in 4,514 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
On the global front, West Texas Intermediate crude oil increased 1.46 per cent to USD 61.91 per barrel and Brent Crude was trading 1.41 per cent higher at USD 64.81 a barrel in New York.
On the Multi Commodity Exchange, crude oil for June delivery declined Rs 48 or 0.92 per cent to Rs 5,245 per barrel in 4,514 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
On the global front, West Texas Intermediate crude oil increased 1.46 per cent to USD 61.91 per barrel and Brent Crude was trading 1.41 per cent higher at USD 64.81 a barrel in New York.
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