Crude Oil Futures Decline on Weak Global Demand
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Crude oil futures eased on Tuesday, tracking weak global demand. Prices fell Rs 27 to Rs 5,254 per barrel on the MCX. Read more about the decline.
New Delhi, Apr 29 (PTI) Crude oil futures on Tuesday declined Rs 27 to Rs 5,254 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 27 or 0.51 per cent to Rs 5,254 per barrel in 14,474 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 1.08 per cent to USD 61.38 per barrel and Brent Crude was trading 1.05 per cent lower at USD 65.17 a barrel in New York.
On the Multi Commodity Exchange, crude oil for May delivery declined Rs 27 or 0.51 per cent to Rs 5,254 per barrel in 14,474 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 1.08 per cent to USD 61.38 per barrel and Brent Crude was trading 1.05 per cent lower at USD 65.17 a barrel in New York.
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