Crude Oil Futures Fall on Weak Global Cues
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Crude oil futures decline on MCX due to weak global cues and oversupply concerns. May delivery at Rs 8,331 per barrel. WTI and Brent Crude prices down.
New Delhi, Apr 15 (PTI) Crude oil fell by Rs 6 to Rs 8,331 per barrel in the futures trade on Wednesday, amid weak global trends, as concerns about oversupply weighed on prices.
On the Multi Commodity Exchange, crude oil futures for the May delivery slipped by Rs 6, or 0.07 per cent, to Rs 8,331 per barrel in a business turnover of 6,119 lots.
Analysts said prices fell after participants offloaded their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil was trading 0.81 per cent lower at USD 90.57 per barrel, while Brent Crude fell 0.14 per cent to USD 94.66 per barrel in New York.
On the Multi Commodity Exchange, crude oil futures for the May delivery slipped by Rs 6, or 0.07 per cent, to Rs 8,331 per barrel in a business turnover of 6,119 lots.
Analysts said prices fell after participants offloaded their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil was trading 0.81 per cent lower at USD 90.57 per barrel, while Brent Crude fell 0.14 per cent to USD 94.66 per barrel in New York.
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