Crude Oil Futures Fall on Weak Global Demand
Crude oil futures declined in India due to weak global demand, with participants reducing their positions. West Texas Intermediate and Brent crude rose in New York.
New Delhi, Feb 11 (PTI) Crude oil futures on Tuesday fell Rs 16 to Rs 6,306 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 March delivery traded lower by Rs 16 or 0.25 per cent at Rs 6,306 per barrel in 784 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude increased 0.46 per cent to USD 72.65 per barrel while Brent crude was trading 0.49 per cent higher at USD 76.24 per barrel in New York.
On the Multi Commodity Exchange, crude oil for March delivery traded lower by Rs 16 or 0.25 per cent at Rs 6,306 per barrel in 784 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude increased 0.46 per cent to USD 72.65 per barrel while Brent crude was trading 0.49 per cent higher at USD 76.24 per barrel in New York.
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