Crude Oil Futures Fall on Weak Spot Demand
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Crude oil futures declined due to weak spot demand. November delivery fell on MCX. WTI and Brent Crude also saw declines.
New Delhi, Oct 20 (PTI) Crude oil futures on Monday declined by Rs 27 to Rs 5,026 per barrel as participants trimmed their positions amid weak demand in the spot market.
On the Multi-Commodity Exchange, crude oil for November delivery fell Rs 27, or 0.53 per cent, to Rs 5,026 per barrel in 3,713 lots.
Analysts said the prices fell after participants offloaded their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil was trading 0.64 per cent lower at USD 57.17 per barrel, while Brent Crude fell 0.54 per cent to USD 60.94 per barrel in New York.
On the Multi-Commodity Exchange, crude oil for November delivery fell Rs 27, or 0.53 per cent, to Rs 5,026 per barrel in 3,713 lots.
Analysts said the prices fell after participants offloaded their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil was trading 0.64 per cent lower at USD 57.17 per barrel, while Brent Crude fell 0.54 per cent to USD 60.94 per barrel in New York.
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