Crude Oil Futures Decline Amid Weak Global Demand
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Crude oil futures eased on Monday due to weak global demand, with prices declining Rs 56 to Rs 5,295 per barrel on the Multi Commodity Exchange.
New Delhi, May 19 (PTI) Crude oil futures on Monday declined Rs 56 to Rs 5,295 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 56 or 1.05 per cent to Rs 5,295 per barrel in 7,479 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 0.82 per cent to USD 61.98 per barrel and Brent Crude was trading 0.83 per cent lower at USD 64.87 a barrel in New York.
On the Multi Commodity Exchange, crude oil for June delivery declined Rs 56 or 1.05 per cent to Rs 5,295 per barrel in 7,479 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 0.82 per cent to USD 61.98 per barrel and Brent Crude was trading 0.83 per cent lower at USD 64.87 a barrel in New York.
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