Crude Oil Futures Fall on Weak Demand
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Crude oil futures eased on Thursday, dropping Rs 17 to Rs 5,765 per barrel amid weak spot market demand. Global crude prices also saw a decline.
New Delhi, Jul 10 (PTI) Crude oil futures on Thursday fell Rs 17 to Rs 5,765 per barrel, as participants trimmed their positions, tracking weak demand in the spot market.
On the Multi Commodity Exchange, crude oil for August delivery declined Rs 17, or 0.29 per cent, to Rs 5,765 per barrel in 4,596 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 0.02 per cent lower at USD 68.36 per barrel, while Brent Crude fell 0.47 per cent to USD 70.24 per barrel in New York.
On the Multi Commodity Exchange, crude oil for August delivery declined Rs 17, or 0.29 per cent, to Rs 5,765 per barrel in 4,596 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 0.02 per cent lower at USD 68.36 per barrel, while Brent Crude fell 0.47 per cent to USD 70.24 per barrel in New York.
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