Crude Oil Futures Decline on Weak Spot Demand
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Crude oil futures fell Rs 46 to Rs 5,730/barrel on MCX due to weak spot demand. WTI & Brent Crude also declined in global markets.
New Delhi, Sep 25 (PTI) Crude oil futures on Thursday declined Rs 46 to Rs 5,730 per barrel, as participants trimmed their positions amid weak demand in the spot market.
On the Multi-Commodity Exchange, crude oil for October delivery fell Rs 46 or 0.8 per cent to Rs 5,730 per barrel in 10,671 lots.
Analysts said the prices were affected after participants offloaded their holdings amid weak demand in the spot market.
Globally, however, West Texas Intermediate crude oil was trading 0.82 per cent lower at USD 64.46 per barrel, while Brent Crude fell 0.74 per cent to USD 68.80 per barrel in New York.
On the Multi-Commodity Exchange, crude oil for October delivery fell Rs 46 or 0.8 per cent to Rs 5,730 per barrel in 10,671 lots.
Analysts said the prices were affected after participants offloaded their holdings amid weak demand in the spot market.
Globally, however, West Texas Intermediate crude oil was trading 0.82 per cent lower at USD 64.46 per barrel, while Brent Crude fell 0.74 per cent to USD 68.80 per barrel in New York.
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