Crude Oil Futures Decline on Weak Demand - PTI
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Crude oil futures on the Multi Commodity Exchange declined Rs 4 to Rs 5,277 per barrel on Tuesday, driven by weak demand in the overseas market. Read more.
New Delhi, May 13 (PTI) Crude oil futures on Tuesday declined Rs 4 to Rs 5,277 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 June delivery declined Rs 4 or 0.08 per cent to Rs 5,277 per barrel in 5,047 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude oil increased 0.06 per cent to USD 64.96 per barrel and Brent Crude was trading 0.04 per cent higher at USD 59.97 a barrel in New York.
On the Multi Commodity Exchange, crude oil for June delivery declined Rs 4 or 0.08 per cent to Rs 5,277 per barrel in 5,047 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude oil increased 0.06 per cent to USD 64.96 per barrel and Brent Crude was trading 0.04 per cent higher at USD 59.97 a barrel in New York.
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