Crude Oil Futures Decline Amid Weak Global Demand
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Crude oil futures fell on Friday due to weak global demand, with participants trimming their positions. WTI crude rose while Brent Crude declined in New York.
New Delhi, Apr 25 (PTI) Crude oil futures on Friday declined by Rs 5 to Rs 5,385 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 declined Rs 5 or 0.09 per cent to Rs 5,385 per barrel in 13,512 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 0.30 per cent to USD 62.98 per barrel and Brent Crude was trading 0.29 per cent lower at USD 66.74 a barrel in New York.
On the Multi Commodity Exchange, crude oil for May delivery declined Rs 5 or 0.09 per cent to Rs 5,385 per barrel in 13,512 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 0.30 per cent to USD 62.98 per barrel and Brent Crude was trading 0.29 per cent lower at USD 66.74 a barrel in New York.
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