Crude Oil Futures Ease on Weak Global Demand
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Crude oil futures declined by Rs 6 to Rs 5,380 per barrel due to weak global demand and participants trimming positions. WTI and Brent crude also saw price drops.
New Delhi, Jun 5 (PTI) Crude oil futures on Thursday declined by Rs 6 to Rs 5,380 per barrel in futures trade as participants trimmed their positions tracking weak demand in the overseas market.
On the Multi Commodity Exchange, crude oil for June delivery declined Rs 6 or 0.11 per cent to Rs 5,380 per barrel in 6,295 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
On the global front, West Texas Intermediate crude oil decreased 0.46 per cent to USD 62.56 per barrel and Brent Crude was trading 0.26 per cent lower at USD 64.69 a barrel in New York.
On the Multi Commodity Exchange, crude oil for June delivery declined Rs 6 or 0.11 per cent to Rs 5,380 per barrel in 6,295 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
On the global front, West Texas Intermediate crude oil decreased 0.46 per cent to USD 62.56 per barrel and Brent Crude was trading 0.26 per cent lower at USD 64.69 a barrel in New York.
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