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 also saw price drops.
New Delhi, Sep 19 (PTI) Crude oil futures on Friday fell Rs 5 to Rs 5,578 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 5, or 0.09 per cent, to Rs 5,578 per barrel in 11,183 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 0.52 per cent lower at USD 63.24 per barrel, while Brent Crude fell 0.40 per cent to USD 67.17 per barrel in New York.
On the Multi-Commodity Exchange, crude oil for October delivery declined Rs 5, or 0.09 per cent, to Rs 5,578 per barrel in 11,183 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 0.52 per cent lower at USD 63.24 per barrel, while Brent Crude fell 0.40 per cent to USD 67.17 per barrel in New York.
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