Crude Oil Futures Ease on Weak Spot Demand
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Crude oil futures fell on Monday due to weak spot demand. Participants trimmed positions. West Texas Intermediate & Brent Crude also declined.
New Delhi, Sep 1 (PTI) Crude oil futures on Monday fell Rs 2 to Rs 5,652 per barrel, as participants trimmed their positions, tracking weak demand in the spot market.
On the Multi-Commodity Exchange, crude oil for September delivery declined Rs 2, or 0.04 per cent, to Rs 5,652 per barrel in 11,249 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 0.37 per cent lower at USD 63.77 per barrel, while Brent Crude fell 0.39 per cent to USD 67.22 per barrel in New York.
On the Multi-Commodity Exchange, crude oil for September delivery declined Rs 2, or 0.04 per cent, to Rs 5,652 per barrel in 11,249 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 0.37 per cent lower at USD 63.77 per barrel, while Brent Crude fell 0.39 per cent to USD 67.22 per barrel in New York.
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