Crude Oil Futures Decline on Weak Spot Demand
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Crude oil futures fell Rs 36 to Rs 5,182/barrel on MCX due to weak spot demand. November delivery down 0.69%. WTI & Brent Crude rise.
New Delhi, Oct 15 (PTI) Crude oil futures on Wednesday declined by Rs 36 to Rs 5,182 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 36, or 0.69 per cent, to Rs 5,182 per barrel in 12,663 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 0.14 per cent higher at USD 58.78 per barrel, while Brent Crude rose 0.02 per cent to USD 62.40 per barrel in New York.
On the Multi-Commodity Exchange, crude oil for November delivery fell Rs 36, or 0.69 per cent, to Rs 5,182 per barrel in 12,663 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 0.14 per cent higher at USD 58.78 per barrel, while Brent Crude rose 0.02 per cent to USD 62.40 per barrel in New York.
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