Crude Oil Futures Ease on Weak Demand
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Crude oil futures fell marginally to Rs 6,049 per barrel due to weak spot demand. Global markets saw mixed results with WTI and Brent crude showing slight increases.
New Delhi, Aug 1 (PTI) Crude oil futures on Friday fell marginally to Rs 6,049 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 3 or 0.05 per cent to Rs 6,049 per barrel in 9,579 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 higher at USD 69.28 per barrel, while Brent Crude rose 0.10 per cent to USD 71.77 per barrel in New York.
On the Multi Commodity Exchange, crude oil for August delivery declined Rs 3 or 0.05 per cent to Rs 6,049 per barrel in 9,579 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 higher at USD 69.28 per barrel, while Brent Crude rose 0.10 per cent to USD 71.77 per barrel in New York.
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