Crude Oil Futures Decline on Weak Spot Demand
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Crude oil futures fell Rs 22 to Rs 5,350/barrel on MCX as participants trimmed positions amid weak spot market demand. Read more.
New Delhi, Dec 5 (PTI) Crude oil futures on Friday declined Rs 22 to Rs 5,350 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 22 or 0.41 per cent to Rs 5,350 per barrel in 2,631 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 0.27 per cent lower at USD 59.51 per barrel, while Brent Crude fell 0.17 per cent to USD 63.15 per barrel in New York.
On the Multi Commodity Exchange, crude oil for January delivery fell Rs 22 or 0.41 per cent to Rs 5,350 per barrel in 2,631 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 0.27 per cent lower at USD 59.51 per barrel, while Brent Crude fell 0.17 per cent to USD 63.15 per barrel in New York.
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