Crude Oil Futures Ease Amid Weak Global Cues
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Crude oil futures slipped on Tuesday, impacted by weak demand in the spot market. Global cues also played a role, with WTI and Brent crude showing mixed results.
New Delhi, Jun 3 (PTI) Crude oil futures on Tuesday slipped Rs 4 to Rs 5,310 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 4 or 0.08 per cent to Rs 5,310 per barrel in 6,162 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak demand in the spot market.
On the global front, West Texas Intermediate crude oil increased 0.21 per cent to USD 62.73 per barrel, and Brent Crude was trading 0.13 per cent higher at USD 64.76 a barrel in New York.
On the Multi Commodity Exchange, crude oil for July delivery declined Rs 4 or 0.08 per cent to Rs 5,310 per barrel in 6,162 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak demand in the spot market.
On the global front, West Texas Intermediate crude oil increased 0.21 per cent to USD 62.73 per barrel, and Brent Crude was trading 0.13 per cent higher at USD 64.76 a barrel in New York.
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