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 32. Global prices: WTI at $60.19, Brent at $64.62.
New Delhi, Oct 30 (PTI) Crude oil futures on Thursday declined by Rs 32 to Rs 5,340 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 32, to Rs 5,340 per barrel in 14,105 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 0.48 per cent lower at USD 60.19 per barrel, while Brent Crude fell 0.46 per cent to USD 64.62 per barrel in New York.
On the Multi-Commodity Exchange, crude oil for November delivery fell Rs 32, to Rs 5,340 per barrel in 14,105 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 0.48 per cent lower at USD 60.19 per barrel, while Brent Crude fell 0.46 per cent to USD 64.62 per barrel in New York.
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