Crude Oil Futures Ease Amid Weak Global Demand
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Crude oil futures slipped on Wednesday, impacted by weak global demand and reduced trading positions. WTI and Brent crude also saw slight declines.
New Delhi, Jun 3 (PTI) Crude oil futures on Wednesday slipped Rs 7 to Rs 5,448 per barrel as participants trimmed their positions tracking weak demand in the spot market.
On the Multi Commodity Exchange, crude oil for June delivery declined Rs 7 or 0.13 per cent to Rs 5,448 per barrel in 7,373 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 0.03 per cent lower at USD 63.38 per barrel while Brent Crude marginally fell to USD 65.62 per barrel in New York.
On the Multi Commodity Exchange, crude oil for June delivery declined Rs 7 or 0.13 per cent to Rs 5,448 per barrel in 7,373 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 0.03 per cent lower at USD 63.38 per barrel while Brent Crude marginally fell to USD 65.62 per barrel in New York.
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