Crude Oil Futures Fall on Weak Global Demand
Crude oil futures declined in India, tracking weak global demand. WTI crude fell 0.67% to USD 73.40 per barrel, while Brent crude was down 0.79% to USD 77.48.
New Delhi, Jan 31 (PTI) Crude oil futures on Friday fell Rs 42 to Rs 6,361 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 42 or 0.66 per cent at Rs 6,361 per barrel in 7,767 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude declined 0.67 per cent to USD 73.40 per barrel while Brent crude was trading 0.79 per cent lower at USD 77.48 per barrel in New York.
On the Multi Commodity Exchange, crude oil for February delivery traded lower by Rs 42 or 0.66 per cent at Rs 6,361 per barrel in 7,767 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude declined 0.67 per cent to USD 73.40 per barrel while Brent crude was trading 0.79 per cent lower at USD 77.48 per barrel in New York.
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