Crude Oil Futures Decline on Weak Global Demand
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Crude oil futures eased on the Multi Commodity Exchange, tracking weak global demand. West Texas Intermediate and Brent Crude also fell in New York.
New Delhi, May 23 (PTI) Crude oil futures on Friday declined by Rs 30 to Rs 5,235 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 30 or 0.57 per cent to Rs 5,235 per barrel in 11,616 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 0.64 per cent to USD 60.81 per barrel and Brent Crude was trading 0.57 per cent lower at USD 64.07 a barrel in New York.
On the Multi Commodity Exchange, crude oil for June delivery declined Rs 30 or 0.57 per cent to Rs 5,235 per barrel in 11,616 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 0.64 per cent to USD 60.81 per barrel and Brent Crude was trading 0.57 per cent lower at USD 64.07 a barrel in New York.
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