Crude Oil Futures Fall on Weak Spot Demand
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Crude oil futures declined to Rs 5,800/barrel on MCX due to weak spot demand. WTI crude oil traded flat, Brent Crude fell slightly.
New Delhi, Aug 4 (PTI) Crude oil futures on Monday marginally fell to Rs 5,800 per barrel as participants trimmed their positions, tracking weak demand in the spot market.
On the Multi-Commodity Exchange, crude oil for September delivery declined Re 1 or 0.02 per cent to Rs 5,800 per barrel in 1,690 lots.
Analysts said the prices were affected after participants offloaded their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil for September contract was trading almost flat at USD 67.20 per barrel, while Brent Crude for October contract fell 0.24 per cent to USD 69.50 per barrel in New York.
On the Multi-Commodity Exchange, crude oil for September delivery declined Re 1 or 0.02 per cent to Rs 5,800 per barrel in 1,690 lots.
Analysts said the prices were affected after participants offloaded their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil for September contract was trading almost flat at USD 67.20 per barrel, while Brent Crude for October contract fell 0.24 per cent to USD 69.50 per barrel in New York.
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