Crude Oil Futures Ease on Weak Demand
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Crude oil futures fell on Monday due to weak spot market demand. Participants reduced positions, impacting prices on the Multi Commodity Exchange. Global crude oil prices show mixed trends.
New Delhi, Jul 14 (PTI) Crude oil futures on Monday fell Rs 17 to Rs 5,898 per barrel, as participants trimmed their positions, tracking weak demand in the spot market.
On the Multi Commodity Exchange, crude oil for August delivery declined Rs 17, or 0.29 per cent, to Rs 5,898 per barrel in 9,692 lots.
Analysts said the prices were affected after participants offloaded their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil was trading 0.13 per cent higher at USD 68.54 per barrel, while Brent Crude rose 0.13 per cent to USD 70.45 per barrel in New York.
On the Multi Commodity Exchange, crude oil for August delivery declined Rs 17, or 0.29 per cent, to Rs 5,898 per barrel in 9,692 lots.
Analysts said the prices were affected after participants offloaded their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil was trading 0.13 per cent higher at USD 68.54 per barrel, while Brent Crude rose 0.13 per cent to USD 70.45 per barrel in New York.
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