Crude Oil Futures Fall on Weak Global Demand
Crude oil futures declined on Monday due to weak global demand, with both WTI and Brent crude prices falling. Learn more about the impact of weak global cues on oil prices.
New Delhi, Jan 27 (PTI) Crude oil futures on Monday fell Rs 26 to Rs 6,401 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 26 or 0.4 per cent at Rs 6,401 per barrel in 8,083 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude declined 0.86 per cent to USD 74.02 per barrel while Brent crude was trading 0.83 per cent lower at USD 77.85 per barrel in New York.
On the Multi Commodity Exchange, crude oil for February delivery traded lower by Rs 26 or 0.4 per cent at Rs 6,401 per barrel in 8,083 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude declined 0.86 per cent to USD 74.02 per barrel while Brent crude was trading 0.83 per cent lower at USD 77.85 per barrel in New York.
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