Crude Oil Futures Decline on Weak Spot Demand
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Crude oil futures fell Rs 45 to Rs 5,346/barrel on MCX due to weak spot demand. WTI & Brent Crude also declined in global markets.
New Delhi, Oct 31 (PTI) Crude oil futures on Friday declined Rs 45 to Rs 5,346 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 45 or 0.83 per cent to Rs 5,346 per barrel in 14,202 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 0.84 per cent lower at USD 60.06 per barrel, while Brent Crude fell 0.72 per cent to USD 64.53 per barrel in New York.
On the Multi Commodity Exchange, crude oil for November delivery fell Rs 45 or 0.83 per cent to Rs 5,346 per barrel in 14,202 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 0.84 per cent lower at USD 60.06 per barrel, while Brent Crude fell 0.72 per cent to USD 64.53 per barrel in New York.
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