Crude Oil Futures Decline on Weak Spot Demand
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Crude oil futures fell to Rs 5,213/barrel on MCX as participants trimmed positions amid weak spot demand. WTI & Brent Crude also declined.
New Delhi, Nov 13 (PTI) Crude oil futures on Thursday declined by Rs 10 to Rs 5,213 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 10, or 0.19 per cent, to Rs 5,213 per barrel in 10,100 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 0.17 per cent lower at USD 58.40 per barrel, while Brent Crude fell 0.10 per cent to USD 62.65 per barrel in New York.
On the Multi Commodity Exchange, crude oil for December delivery fell Rs 10, or 0.19 per cent, to Rs 5,213 per barrel in 10,100 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 0.17 per cent lower at USD 58.40 per barrel, while Brent Crude fell 0.10 per cent to USD 62.65 per barrel in New York.
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