Crude Oil Futures Fall on Weak Demand
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Crude oil futures eased on Wednesday, dropping Rs 27 to Rs 5,859 per barrel amid weak spot market demand. Global benchmarks also saw declines.
New Delhi, Jul 9 (PTI) Crude oil futures on Wednesday fell Rs 27 to Rs 5,859 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 27, or 0.46 per cent, to Rs 5,859 per barrel in 13,022 lots.
Analysts said the prices were affected after participants offloaded their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil was trading 0.19 per cent lower at USD 68.20 per barrel, while Brent Crude fell 0.13 per cent to USD 70.06 per barrel in New York.
On the Multi Commodity Exchange, crude oil for July delivery declined Rs 27, or 0.46 per cent, to Rs 5,859 per barrel in 13,022 lots.
Analysts said the prices were affected after participants offloaded their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil was trading 0.19 per cent lower at USD 68.20 per barrel, while Brent Crude fell 0.13 per cent to USD 70.06 per barrel in New York.
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