Crude Oil Futures Decline Amid Weak Global Demand
Crude oil futures fell on the MCX, tracking weak global demand. West Texas Intermediate crude and Brent crude also declined in New York.
New Delhi, Feb 4 (PTI) Crude oil futures on Tuesday fell Rs 53 to Rs 6,281 per barrel in futures trade as participants trimmed their positions tracking weak demand in the overseas market.
On the Multi Commodity Exchange, crude oil for February delivery traded lower by Rs 53 or 0.84 per cent at Rs 6,281 per barrel in 5,827 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude declined 1.49 per cent to USD 72.07 per barrel while Brent crude was trading 0.83 per cent lower at USD 75.33 per barrel in New York.
On the Multi Commodity Exchange, crude oil for February delivery traded lower by Rs 53 or 0.84 per cent at Rs 6,281 per barrel in 5,827 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude declined 1.49 per cent to USD 72.07 per barrel while Brent crude was trading 0.83 per cent lower at USD 75.33 per barrel in New York.
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