Crude Oil Futures Decline on Weak Spot Demand
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Crude oil futures fell to Rs 5,306/barrel on MCX as participants trimmed positions amid weak spot demand. WTI & Brent Crude prices rise globally.
New Delhi, Dec 3 (PTI) Crude oil futures on Wednesday declined by Re 1 to Rs 5,306 per barrel as participants trimmed their positions amid weak demand in the spot market.
On the Multi Commodity Exchange, crude oil for January delivery fell Rs 1, or 0.02 per cent, to Rs 5,306 per barrel in 2,464 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 0.10 per cent higher at USD 58.71 per barrel, while Brent Crude rose 0.10 per cent to USD 62.50 per barrel in New York.
On the Multi Commodity Exchange, crude oil for January delivery fell Rs 1, or 0.02 per cent, to Rs 5,306 per barrel in 2,464 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 0.10 per cent higher at USD 58.71 per barrel, while Brent Crude rose 0.10 per cent to USD 62.50 per barrel in New York.
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