Crude Oil Futures Decline Amid Weak Global Demand
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Crude oil futures fell on Wednesday due to weak global demand, with West Texas Intermediate and Brent crude prices also declining. Learn more about the market trends.
New Delhi, Apr 2 (PTI) Crude oil futures on Wednesday fell by Rs 8 to Rs 6,090 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 May delivery traded lower by Rs 8 or 0.13 per cent at Rs 6,090 per barrel in 605 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude declined 0.13 per cent to USD 71.11 per barrel, while Brent crude was trading 0.16 per cent lower at USD 74.37 per barrel in New York.
On the Multi Commodity Exchange, crude oil for May delivery traded lower by Rs 8 or 0.13 per cent at Rs 6,090 per barrel in 605 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude declined 0.13 per cent to USD 71.11 per barrel, while Brent crude was trading 0.16 per cent lower at USD 74.37 per barrel in New York.
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