Crude Oil Futures Fall on Weak Spot Demand
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Crude oil futures declined due to weak spot demand. September delivery fell on MCX. WTI and Brent Crude prices rise globally.
New Delhi, Aug 7 (PTI) Crude oil futures on Thursday fell Rs 7 to Rs 5,635 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 Rs 7 or 0.12 per cent to Rs 5,635 per barrel in 2,708 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 was trading 0.70 per cent higher at USD 64.80 per barrel, while Brent Crude rose 0.64 per cent to USD 67.32 per barrel in New York.
On the Multi Commodity Exchange, crude oil for September delivery declined Rs 7 or 0.12 per cent to Rs 5,635 per barrel in 2,708 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 was trading 0.70 per cent higher at USD 64.80 per barrel, while Brent Crude rose 0.64 per cent to USD 67.32 per barrel in New York.
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