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 also traded lower in New York.
New Delhi, Aug 28 (PTI) Crude oil futures on Thursday fell Rs 37 to Rs 5,581 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 37, or 0.66 per cent, to Rs 5,581 per barrel in 11,826 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 0.81 per cent lower at USD 63.63 per barrel, while Brent Crude fell 0.76 per cent to USD 67.53 per barrel in New York.
On the Multi-Commodity Exchange, crude oil for September delivery declined Rs 37, or 0.66 per cent, to Rs 5,581 per barrel in 11,826 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 0.81 per cent lower at USD 63.63 per barrel, while Brent Crude fell 0.76 per cent to USD 67.53 per barrel in New York.
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