Crude Oil Futures Fall on Weak Global Demand - PTI
Crude oil futures declined on the Multi Commodity Exchange, driven by weak global cues and a decline in demand for the commodity. West Texas Intermediate and Brent crude also fell in New York.
New Delhi, Mar 24 (PTI) Crude oil futures on Monday fell Rs 15 to Rs 5,885 per barrel in futures trade as participants trimmed their positions tracking weak demand in the overseas market.
On the Multi Commodity Exchange, crude oil for April delivery traded lower by Rs 15 or 0.25 per cent at Rs 5,885 per barrel in 5,243 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude declined 0.18 per cent to USD 68.16 per barrel while Brent crude was trading 0.25 per cent lower at USD 71.98 per barrel in New York.
On the Multi Commodity Exchange, crude oil for April delivery traded lower by Rs 15 or 0.25 per cent at Rs 5,885 per barrel in 5,243 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude declined 0.18 per cent to USD 68.16 per barrel while Brent crude was trading 0.25 per cent lower at USD 71.98 per barrel in New York.
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