Crude Oil Futures Fall on Weak Demand - PTI
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Crude oil futures on the Multi Commodity Exchange fell by Rs 134 to Rs 5,186 per barrel on Monday, tracking weak global demand. Analysts cited participants offloading their holdings amid weak global cues as the reason for the decline.
New Delhi, Apr 7 (PTI) Crude oil futures on Monday went lower by Rs 134 to Rs 5,186 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 May delivery declined Rs 134 or 2.52 per cent to Rs 5,186 per barrel in 3,582 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 2.71 per cent to USD 60.31 per barrel and Brent Crude was trading 2.62 per cent lower at USD 63.86 a barrel in New York.
On the Multi Commodity Exchange, crude oil for May delivery declined Rs 134 or 2.52 per cent to Rs 5,186 per barrel in 3,582 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 2.71 per cent to USD 60.31 per barrel and Brent Crude was trading 2.62 per cent lower at USD 63.86 a barrel in New York.
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