Crude Oil Futures Decline on Weak Global Demand
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Crude oil futures fell on Thursday, tracking weak global demand. Prices declined on the Multi Commodity Exchange, with WTI and Brent crude also trading lower in New York.
New Delhi, May 15 (PTI) Crude oil futures on Thursday declined Rs 137 to Rs 5,264 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 137 or 2.54 per cent to Rs 5,264 per barrel in 7,976 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 2.64 per cent to USD 61.48 per barrel and Brent Crude was trading 2.56 per cent lower at USD 64.40 a barrel in New York.
On the Multi Commodity Exchange, crude oil for June delivery declined Rs 137 or 2.54 per cent to Rs 5,264 per barrel in 7,976 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 2.64 per cent to USD 61.48 per barrel and Brent Crude was trading 2.56 per cent lower at USD 64.40 a barrel in New York.
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