Crude Oil Futures Ease on Weak Demand
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Crude oil futures slipped on Monday due to weak spot market demand. Prices fell despite gains in global benchmarks like WTI and Brent crude.
New Delhi, Jun 30 (PTI) Crude oil futures on Monday slipped Rs 8 to Rs 5,593 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 8 or 0.14 per cent to Rs 5,593 per barrel in 14,130 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 0.47 per cent higher at USD 65.21 per barrel, while Brent Crude rose 0.32 per cent to USD 67.55 per barrel in New York.
On the Multi Commodity Exchange, crude oil for July delivery declined Rs 8 or 0.14 per cent to Rs 5,593 per barrel in 14,130 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 0.47 per cent higher at USD 65.21 per barrel, while Brent Crude rose 0.32 per cent to USD 67.55 per barrel in New York.
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