Crude oil futures dip on weak spot demand
On the Multi Commodity Exchange, crude oil for the June delivery dropped by Rs 37, or 0.73 per cent, to Rs 5,011 per barrel with a business volume of 8,262 lots.
By PTI |
BCCL
NEW DELHI: Crude oil prices on Tuesday fell by Rs 37 to Rs 5,011 per barrel after the participants cut their positions.
On the Multi Commodity Exchange, crude oil for the June delivery dropped by Rs 37, or 0.73 per cent, to Rs 5,011 per barrel with a business volume of 8,262 lots.
Analysts said the fall in crude oil futures was mostly due to trimming of positions by traders amid a weak spot demand.
Globally, West Texas Intermediate crude oil was trading 0.61 per cent lower at USD 68.81 per barrel.
Meanwhile, Brent crude, the international benchmark, fell 0.63 per cent to trade at USD 71.04 per barrel in New York.
On the Multi Commodity Exchange, crude oil for the June delivery dropped by Rs 37, or 0.73 per cent, to Rs 5,011 per barrel with a business volume of 8,262 lots.
Analysts said the fall in crude oil futures was mostly due to trimming of positions by traders amid a weak spot demand.
Globally, West Texas Intermediate crude oil was trading 0.61 per cent lower at USD 68.81 per barrel.
Meanwhile, Brent crude, the international benchmark, fell 0.63 per cent to trade at USD 71.04 per barrel in New York.
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