Crude Oil Futures Fall on Weak Spot Demand
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Crude oil futures declined on MCX due to weak spot demand. September delivery fell to Rs 5,614 per barrel. WTI and Brent Crude also down.
New Delhi, Sep 11 (PTI) Crude oil futures on Thursday fell Rs 8 to Rs 5,614 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 8 or 0.14 per cent to Rs 5,614 per barrel in 10,158 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 0.24 per cent lower at USD 63.52 per barrel, while Brent Crude fell 0.19 per cent to USD 67.36 per barrel in New York.
On the Multi-Commodity Exchange, crude oil for September delivery declined Rs 8 or 0.14 per cent to Rs 5,614 per barrel in 10,158 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 0.24 per cent lower at USD 63.52 per barrel, while Brent Crude fell 0.19 per cent to USD 67.36 per barrel in New York.
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