Crude Oil Futures Ease on Weak Demand
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Crude oil futures fell to Rs 5,633 per barrel due to weak spot market demand. Global prices also saw mixed trends, with WTI up and Brent down.
New Delhi, Jul 17 (PTI) Crude oil futures on Thursday fell marginally to Rs 5,633 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 Re 1, or 0.02 per cent, to Rs 5,633 per barrel in 10,133 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 0.23 per cent higher at USD 66.61 per barrel, while Brent Crude fell 0.20 per cent to USD 68.66 per barrel in New York.
On the Multi Commodity Exchange, crude oil for August delivery declined Re 1, or 0.02 per cent, to Rs 5,633 per barrel in 10,133 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 0.23 per cent higher at USD 66.61 per barrel, while Brent Crude fell 0.20 per cent to USD 68.66 per barrel in New York.
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