Crude Oil Futures Drop 4% on Low Demand
Crude oil futures declined over 4% on Monday due to low demand, with prices falling to Rs 5,789 per barrel on the Multi Commodity Exchange. Global crude oil prices also saw significant drops.
New Delhi, Oct 28 (PTI) Crude oil futures on Monday declined 4.16 per cent to Rs 5,789 per barrel as participants trimmed their positions on low demand.
On the Multi Commodity Exchange, crude oil for November delivery fell Rs 251 or 4.16 per cent to Rs 5,789 per barrel with a business volume of 14,010 lots.
Globally, West Texas Intermediate crude was trading 4.21 per cent lower at USD 68.76 per barrel, while Brent crude was trading 3.96 per cent down at USD 73.04 per barrel in New York.
On the Multi Commodity Exchange, crude oil for November delivery fell Rs 251 or 4.16 per cent to Rs 5,789 per barrel with a business volume of 14,010 lots.
Globally, West Texas Intermediate crude was trading 4.21 per cent lower at USD 68.76 per barrel, while Brent crude was trading 3.96 per cent down at USD 73.04 per barrel in New York.
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