Crude Oil Futures Fall on Weak Global Demand
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Crude oil futures eased on Wednesday, falling Rs 39 to Rs 5,472 per barrel amid weak global demand and participants trimming positions. West Texas Intermediate and Brent Crude saw slight gains.
New Delhi, Jun 11 (PTI) Crude oil futures on Wednesday fell Rs 39 to Rs 5,472 per barrel as participants trimmed their positions tracking weak demand in the spot market.
On the Multi Commodity Exchange, crude oil for July delivery declined Rs 39, or 0.71 per cent, to Rs 5,472 per barrel in 6,588 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil was trading 0.14 per cent higher at USD 65.07 per barrel, while Brent Crude rose 0.03 per cent to USD 66.90 per barrel in New York.
On the Multi Commodity Exchange, crude oil for July delivery declined Rs 39, or 0.71 per cent, to Rs 5,472 per barrel in 6,588 lots.
Analysts said the prices were affected following participants offloading their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil was trading 0.14 per cent higher at USD 65.07 per barrel, while Brent Crude rose 0.03 per cent to USD 66.90 per barrel in New York.
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