Crude oil futures dip on weak spot demand
On the Multi Commodity Exchange, crude oil for the August delivery dropped by Rs 15, or 0.29 per cent, to Rs 5,097 per barrel with a business volume of 5,769 lots.
By PTI |
Agencies
NEW DELHI: Crude oil prices on Wednesday fell Rs 15 to Rs 5,097 per barrel after participants cut their positions.
On the Multi Commodity Exchange, crude oil for the August delivery dropped by Rs 15, or 0.29 per cent, to Rs 5,097 per barrel with a business volume of 5,769 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 0.12 per cent lower at USD 68.37 per barrel.
Meanwhile, Brent crude, the international benchmark, fell 0.20 per cent to trade at USD 70.77 per barrel in New York.
On the Multi Commodity Exchange, crude oil for the August delivery dropped by Rs 15, or 0.29 per cent, to Rs 5,097 per barrel with a business volume of 5,769 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 0.12 per cent lower at USD 68.37 per barrel.
Meanwhile, Brent crude, the international benchmark, fell 0.20 per cent to trade at USD 70.77 per barrel in New York.
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