Crude Oil Futures Fall on Weak Global Demand
Crude oil futures declined on Thursday, driven by weak global demand. WTI crude fell by 0.42% to USD 71.95 per barrel, while Brent crude slipped by 0.28%.
New Delhi, Feb 20 (PTI) Crude oil futures on Thursday fell by Rs 32 to Rs 6,256 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 32 or 0.52 per cent at Rs 6,256 per barrel in 3,160 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude declined 0.42 per cent to USD 71.95 per barrel, while Brent crude was trading 0.28 per cent lower at USD 75.83 per barrel in New York.
On the Multi Commodity Exchange, crude oil for March delivery traded lower by Rs 32 or 0.52 per cent at Rs 6,256 per barrel in 3,160 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude declined 0.42 per cent to USD 71.95 per barrel, while Brent crude was trading 0.28 per cent lower at USD 75.83 per barrel in New York.
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