Crude Oil Futures Fall on Weak Demand

New Delhi, Feb 17 (PTI) Crude oil prices declined nearly 1 per cent to Rs 5,734 per barrel in futures trade on Tuesday due to weak spot demand amid mixed trends in the overseas market.

On the Multi Commodity Exchange (MCX), crude oil for February delivery fell Rs 57, or 0.98 per cent, to Rs 5,734 per barrel in a business turnover of 6,851 lots. The March contract also eased Rs 47, or 0.81 per cent, to Rs 5,752 per barrel in 10,277 lots.


Analysts said subdued demand from physical markets and mixed trends in global prices weighed on investor sentiment.

In the international markets, West Texas Intermediate crude oil for March delivery rose 0.54 per cent to USD 63.24 per barrel, while Brent Crude fell 0.82 per cent to USD 68.10 per barrel in New York. PTI HG HG BAL

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