Crude Oil Futures Fall on Weak Global Demand
Crude oil futures declined in India due to weak global demand. West Texas Intermediate and Brent crude also fell in New York.
New Delhi, Feb 13 (PTI) Crude oil futures on Thursday fell Rs 66 to Rs 6,170 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 66 or 1.06 per cent at Rs 6,170 per barrel in 1,402 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude declined 0.78 per cent to USD 70.81 per barrel while Brent crude was trading 0.76 per cent lower at USD 74.61 per barrel in New York.
On the Multi Commodity Exchange, crude oil for March delivery traded lower by Rs 66 or 1.06 per cent at Rs 6,170 per barrel in 1,402 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude declined 0.78 per cent to USD 70.81 per barrel while Brent crude was trading 0.76 per cent lower at USD 74.61 per barrel in New York.
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