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 dipped in New York.
New Delhi, Sep 17 (PTI) Crude oil futures on Wednesday fell Rs 37 to Rs 5,644 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 37, or 0.65 per cent, to Rs 5,644 per barrel in 9,862 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 0.12 per cent lower at USD 64.44 per barrel, while Brent Crude fell 0.15 per cent to USD 68.37 per barrel in New York.
On the Multi-Commodity Exchange, crude oil for October delivery declined Rs 37, or 0.65 per cent, to Rs 5,644 per barrel in 9,862 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 0.12 per cent lower at USD 64.44 per barrel, while Brent Crude fell 0.15 per cent to USD 68.37 per barrel in New York.
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