Crude Oil Futures Ease on Weak Demand
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Crude oil futures slipped due to weak spot market demand. Prices fell in India and globally, with WTI and Brent crude also declining.
New Delhi, Jul 1 (PTI) Crude oil futures on Tuesday slipped Rs 2 to Rs 5,579 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 2 or 0.04 per cent to Rs 5,579 per barrel in 15,230 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 0.29 per cent lower at USD 64.92 per barrel, while Brent Crude fell 0.24 per cent to USD 66.58 per barrel in New York.
On the Multi Commodity Exchange, crude oil for July delivery declined Rs 2 or 0.04 per cent to Rs 5,579 per barrel in 15,230 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 0.29 per cent lower at USD 64.92 per barrel, while Brent Crude fell 0.24 per cent to USD 66.58 per barrel in New York.
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