Crude Oil Futures Fall on Weak Demand
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Crude oil futures declined in India on Wednesday, tracking weak global demand. West Texas Intermediate and Brent crude also fell in New York.
New Delhi, Apr 9 (PTI) Crude oil futures on Wednesday fell Rs 160 to Rs 5,023 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 traded lower by Rs 160 or 3.09 per cent at Rs 5,023 per barrel in 6,101 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude declined 1.66 per cent to USD 57.92 per barrel, while Brent crude was trading 2.47 per cent lower at USD 61.27 per barrel in New York.
On the Multi Commodity Exchange, crude oil for May delivery traded lower by Rs 160 or 3.09 per cent at Rs 5,023 per barrel in 6,101 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude declined 1.66 per cent to USD 57.92 per barrel, while Brent crude was trading 2.47 per cent lower at USD 61.27 per barrel in New York.
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