Crude Oil Futures Decline on Weak Spot Demand
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Crude oil futures fell on MCX due to weak spot demand. November delivery down Rs 5. Global prices: WTI at $61.35, Brent at $65.01.
New Delhi, Oct 10 (PTI) Crude oil futures on Friday declined by Rs 5 to Rs 5,433 per barrel as participants trimmed their positions amid weak demand in the spot market.
On the Multi-Commodity Exchange, crude oil for November delivery fell Rs 5, or 0.09 per cent, to Rs 5,433 per barrel in 5,336 lots.
Analysts said the prices fell after participants offloaded their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil was trading 0.26 per cent lower at USD 61.35 per barrel, while Brent Crude fell 0.32 per cent to USD 65.01 per barrel in New York.
On the Multi-Commodity Exchange, crude oil for November delivery fell Rs 5, or 0.09 per cent, to Rs 5,433 per barrel in 5,336 lots.
Analysts said the prices fell after participants offloaded their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil was trading 0.26 per cent lower at USD 61.35 per barrel, while Brent Crude fell 0.32 per cent to USD 65.01 per barrel in New York.
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