Crude Oil Futures Dip on Weak Global Demand - PTI
Crude oil futures declined on the Multi Commodity Exchange on Friday, tracking weak global demand. Prices were affected by participants trimming their positions amid weak global cues.
New Delhi, Feb 28 (PTI) Crude oil futures on Friday fell Rs 17 to Rs 6,118 per barrel in futures trade as participants trimmed their positions tracking weak demand in the overseas market.
On the Multi Commodity Exchange, crude oil for March delivery traded lower by Rs 17 or 0.28 per cent at Rs 6,118 per barrel in 3,558 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude declined 0.67 per cent to USD 69.88 per barrel, while Brent crude was trading 0.68 per cent lower at USD 73.54 per barrel in New York.
On the Multi Commodity Exchange, crude oil for March delivery traded lower by Rs 17 or 0.28 per cent at Rs 6,118 per barrel in 3,558 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude declined 0.67 per cent to USD 69.88 per barrel, while Brent crude was trading 0.68 per cent lower at USD 73.54 per barrel in New York.
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