Crude Oil Futures Fall on Weak Demand
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Crude oil futures declined due to weak spot market demand. Prices fell to Rs 5,709 per barrel on the Multi Commodity Exchange, tracking global trends.
New Delhi, Jul 3 (PTI) Crude oil futures on Thursday fell Rs 44 to Rs 5,709 per barrel, as participants trimmed their positions tracking weak demand in the spot market.
On the Multi Commodity Exchange, crude oil for July delivery declined Rs 44 or 0.76 per cent to Rs 5,709 per barrel in 12,961 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil was trading 0.96 per cent lower at USD 66.80 per barrel, while Brent Crude fell 0.88 per cent to USD 68.50 per barrel in New York.
On the Multi Commodity Exchange, crude oil for July delivery declined Rs 44 or 0.76 per cent to Rs 5,709 per barrel in 12,961 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil was trading 0.96 per cent lower at USD 66.80 per barrel, while Brent Crude fell 0.88 per cent to USD 68.50 per barrel in New York.
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