Crude Oil Futures Fall on Weak Demand
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Crude oil futures eased Rs 65 to Rs 5,706 per barrel on weak spot demand. Global crude prices also saw declines.
New Delhi, Jul 15 (PTI) Crude oil futures on Tuesday fell Rs 65 to Rs 5,706 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 65 or 1.13 per cent to Rs 5,706 per barrel in 7,926 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 0.58 per cent lower at USD 66.59 per barrel, while Brent Crude fell 0.48 per cent to USD 68.88 per barrel in New York.
On the Multi Commodity Exchange, crude oil for August delivery declined Rs 65 or 1.13 per cent to Rs 5,706 per barrel in 7,926 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 0.58 per cent lower at USD 66.59 per barrel, while Brent Crude fell 0.48 per cent to USD 68.88 per barrel in New York.
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