Crude Oil Futures Fall on Weak Global Demand
Crude oil futures declined in India on Tuesday, tracking weak demand in the global market. WTI crude rose, while Brent crude traded higher in New York.
New Delhi, Mar 18 (PTI) Crude oil futures on Tuesday fell by Rs 20 to Rs 5,885 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 April delivery traded lower by Rs 20 or 0.34 per cent at Rs 5,885 per barrel in 5,810 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude rose 0.50 per cent to USD 67.92 per barrel, while Brent crude was trading 0.55 per cent higher at USD 71.46 per barrel in New York.
On the Multi Commodity Exchange, crude oil for April delivery traded lower by Rs 20 or 0.34 per cent at Rs 5,885 per barrel in 5,810 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak global cues.
Globally, West Texas Intermediate crude rose 0.50 per cent to USD 67.92 per barrel, while Brent crude was trading 0.55 per cent higher at USD 71.46 per barrel in New York.
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