Crude Oil Futures Ease on Weak Spot Demand
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Crude oil futures declined due to weak spot demand. December delivery fell on MCX. WTI and Brent Crude prices also decreased globally.
New Delhi, Nov 11 (PTI) Crude oil futures on Tuesday declined by Rs 15 to Rs 5,326 per barrel as participants trimmed their positions amid weak demand in the spot market.
On the Multi Commodity Exchange, crude oil for December delivery fell Rs 15, or 0.28 per cent, to Rs 5,326 per barrel in 5,491 lots.
Analysts said the prices fell after participants offloaded their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil was trading 0.53 per cent lower at USD 59.81 per barrel, while Brent Crude fell 0.48 per cent to USD 63.76 per barrel in New York.
On the Multi Commodity Exchange, crude oil for December delivery fell Rs 15, or 0.28 per cent, to Rs 5,326 per barrel in 5,491 lots.
Analysts said the prices fell after participants offloaded their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil was trading 0.53 per cent lower at USD 59.81 per barrel, while Brent Crude fell 0.48 per cent to USD 63.76 per barrel in New York.
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