Crude Oil Futures Fall to Rs 5,893
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Crude oil futures edged lower to Rs 5,893 per barrel on MCX due to profit-taking, despite firm global trends. Weak spot market demand cited.
New Delhi, Feb 12 (PTI) Crude oil prices edged lower by Rs 14 to Rs 5,893 per barrel in futures trade on Thursday, despite firm global trends, as profit-taking by participants capped gains.
On the Multi Commodity Exchange, crude oil futures for March delivery slipped by Rs 14, or 0.24 per cent, to Rs 5,893 per barrel in a business turnover of 520 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 0.29 per cent higher at USD 64.82 per barrel, while Brent Crude rose 0.23 per cent to USD 69.56 per barrel in New York.
On the Multi Commodity Exchange, crude oil futures for March delivery slipped by Rs 14, or 0.24 per cent, to Rs 5,893 per barrel in a business turnover of 520 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 0.29 per cent higher at USD 64.82 per barrel, while Brent Crude rose 0.23 per cent to USD 69.56 per barrel in New York.
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