Crude Oil Futures Fall on Weak Global Demand
Crude oil futures declined on the Multi Commodity Exchange (MCX) due to weak global demand. West Texas Intermediate (WTI) and Brent crude also fell in New York.
New Delhi, Jan 23 (PTI) Crude oil futures on Thursday fell Rs 32 to Rs 6,529 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 February delivery traded lower by Rs 32 or 0.49 per cent at Rs 6,529 per barrel in 8,286 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude declined 0.30 per cent to USD 75.21 per barrel while Brent crude was trading 0.29 per cent lower at USD 78.77 per barrel in New York.
On the Multi Commodity Exchange, crude oil for February delivery traded lower by Rs 32 or 0.49 per cent at Rs 6,529 per barrel in 8,286 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude declined 0.30 per cent to USD 75.21 per barrel while Brent crude was trading 0.29 per cent lower at USD 78.77 per barrel in New York.
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