Crude Oil Futures Fall on Weak Demand
Crude oil futures in India eased on Thursday, tracking weak global demand. Analysts cite offloading of holdings as a contributing factor. Learn more about the latest oil price trends.
New Delhi, Mar 20 (PTI) Crude oil futures on Thursday slipped Rs 2 to Rs 5,820 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 April delivery traded lower by Rs 2 or 0.03 per cent at Rs 5,820 per barrel in 5,770 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude climbed 0.63 per cent to USD 67.58 per barrel while Brent crude was trading 0.55 per cent higher at USD 71.17 per barrel in New York.
On the Multi Commodity Exchange, crude oil for April delivery traded lower by Rs 2 or 0.03 per cent at Rs 5,820 per barrel in 5,770 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude climbed 0.63 per cent to USD 67.58 per barrel while Brent crude was trading 0.55 per cent higher at USD 71.17 per barrel in New York.
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