Crude Oil Futures Fall on Weak Spot Demand
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Crude oil futures declined due to weak spot demand. October delivery fell on MCX. WTI and Brent Crude prices also decreased globally.
New Delhi, Sep 12 (PTI) Crude oil futures on Friday fell Rs 59 to Rs 5,466 per barrel, as participants trimmed their positions, tracking weak demand in the spot market.
On the Multi-Commodity Exchange, crude oil for October delivery declined Rs 59, or 1.07 per cent, to Rs 5,466 per barrel in 5,150 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 0.88 per cent lower at USD 61.82 per barrel, while Brent Crude fell 0.78 per cent to USD 65.85 per barrel in New York.
On the Multi-Commodity Exchange, crude oil for October delivery declined Rs 59, or 1.07 per cent, to Rs 5,466 per barrel in 5,150 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 0.88 per cent lower at USD 61.82 per barrel, while Brent Crude fell 0.78 per cent to USD 65.85 per barrel in New York.
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