Crude Oil Futures Fall on Weak Global Cues
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Crude oil futures decline Rs 76 to Rs 5,981/barrel on MCX due to weak global cues and lower spot market demand. WTI & Brent Crude also fell.
New Delhi, Feb 23 (PTI) Crude oil prices fell Rs 76 to Rs 5,981 per barrel in the futures trade on Monday, amid weak global benchmarks.
On the Multi Commodity Exchange, crude oil futures for March delivery slipped by Rs 76, or 1.25 per cent, to Rs 5,981 per barrel in a business turnover of 14,454 lots.
Analysts said the prices fell after participants offloaded their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil was trading 1.26 per cent lower at USD 65.64 per barrel, while Brent Crude fell nearly 1 per cent to USD 70.63 per barrel in New York.
On the Multi Commodity Exchange, crude oil futures for March delivery slipped by Rs 76, or 1.25 per cent, to Rs 5,981 per barrel in a business turnover of 14,454 lots.
Analysts said the prices fell after participants offloaded their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil was trading 1.26 per cent lower at USD 65.64 per barrel, while Brent Crude fell nearly 1 per cent to USD 70.63 per barrel in New York.
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