Crude Oil Futures Dip on Weak Global Demand
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Crude oil futures declined on Tuesday, driven by weak global demand. WTI and Brent crude oil prices also fell in New York. Read more.
New Delhi, Apr 1 (PTI) Crude oil futures on Tuesday went lower by Rs 7 to Rs 6,089 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 May delivery declined Rs 7 or 0.11 per cent to Rs 6,089 per barrel in 601 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
On the global front, West Texas Intermediate crude oil decreased 0.21 per cent to USD 71.33 per barrel and Brent Crude was trading 0.19 per cent lower at USD 74.63 a barrel in New York.
On the Multi Commodity Exchange, crude oil for May delivery declined Rs 7 or 0.11 per cent to Rs 6,089 per barrel in 601 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
On the global front, West Texas Intermediate crude oil decreased 0.21 per cent to USD 71.33 per barrel and Brent Crude was trading 0.19 per cent lower at USD 74.63 a barrel in New York.
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