Crude Oil Futures Decline Amid Weak Global Demand

New Delhi, May 16 (PTI) Crude oil futures on Friday declined Rs 11 to Rs 5,246 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 11 or 0.21 per cent to Rs 5,246 per barrel in 10,667 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 decreased 0.15 per cent to USD 61.53 per barrel and Brent Crude was trading 0.14 per cent lower at USD 64.44 a barrel in New York.