Crude Oil Futures Ease Amid Weak Demand
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Crude oil futures fell on weak spot market demand. Prices declined despite gains in WTI and Brent crude globally. Analysis of market trends.
New Delhi, Jun 26 (PTI) Crude oil futures on Thursday fell Rs 14 to Rs 5,629 per barrel as participants trimmed their positions tracking weak demand in the spot market.
On the Multi Commodity Exchange, crude oil for July delivery declined Rs 14 or 0.25 per cent to Rs 5,629 per barrel in 12,152 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil was trading 0.88 per cent higher at USD 65.49 per barrel, while Brent Crude rose 0.83 per cent to USD 68.24 per barrel in New York.
On the Multi Commodity Exchange, crude oil for July delivery declined Rs 14 or 0.25 per cent to Rs 5,629 per barrel in 12,152 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil was trading 0.88 per cent higher at USD 65.49 per barrel, while Brent Crude rose 0.83 per cent to USD 68.24 per barrel in New York.
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