Crude Oil Futures Decline on Weak Spot Demand
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Crude oil futures fell on MCX due to weak spot demand. December delivery down Rs 9 to Rs 5,394/barrel. WTI & Brent Crude also declined.
New Delhi, Nov 12 (PTI) Crude oil futures on Wednesday declined by Rs 9 to Rs 5,394 per barrel as participants trimmed their positions amid weak demand in the spot market.
On the Multi Commodity Exchange, crude oil for December delivery fell Rs 9, or 0.17 per cent, to Rs 5,394 per barrel in 9,440 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 0.33 per cent lower at USD 60.83 per barrel, while Brent Crude fell 0.31 per cent to USD 64.96 per barrel in New York.
On the Multi Commodity Exchange, crude oil for December delivery fell Rs 9, or 0.17 per cent, to Rs 5,394 per barrel in 9,440 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 0.33 per cent lower at USD 60.83 per barrel, while Brent Crude fell 0.31 per cent to USD 64.96 per barrel in New York.
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