Crude Oil Futures Decline on Weak Global Demand

New Delhi, Jan 22 (PTI) Crude oil futures on Wednesday fell Rs 31 to Rs 6,533 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 February delivery traded lower by Rs 31 or 0.47 per cent at Rs 6,533 per barrel in 8,342 lots.


Analysts said the prices were affected following participants offloading their holdings amid weak global cues.

Globally, West Texas Intermediate crude declined 0.73 per cent to USD 75.28 per barrel while Brent crude was trading 0.58 per cent lower at USD 78.83 per barrel in New York.