Crude Oil Futures Fall to Rs 5,981/Barrel
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Crude oil futures decline to Rs 5,981 per barrel on MCX due to profit-taking, despite positive global cues. March delivery sees a dip.
Photograph: Dado Ruvic/Reuters
New Delhi, Feb 27 (PTI) Crude oil prices fell Rs 72 to Rs 5,981 per barrel in futures trade on Friday, despite firm global trends, as profit-taking by participants capped gains.
On the Multi Commodity Exchange, crude oil futures for March delivery slipped Rs 72, or 1.19 per cent, to Rs 5,981 per barrel in a business turnover of 2,384 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 0.38 per cent higher at USD 65.45 per barrel, while Brent Crude rose 0.21 per cent to USD 70.90 per barrel in New York.
On the Multi Commodity Exchange, crude oil futures for March delivery slipped Rs 72, or 1.19 per cent, to Rs 5,981 per barrel in a business turnover of 2,384 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 0.38 per cent higher at USD 65.45 per barrel, while Brent Crude rose 0.21 per cent to USD 70.90 per barrel in New York.
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