Crude oil futures dip on weak spot demand
On the Multi Commodity Exchange, crude oil for the September delivery dropped by Rs 11, or 0.21 per cent, to Rs 5,125 per barrel with a business volume of 5,407 lots.
By PTI |
BCCL - Non Copyright
NEW DELHI: Crude oil prices on Friday fell Rs 11 to Rs 5,125 per barrel after participants cut their positions.
On the Multi Commodity Exchange, crude oil for the September delivery dropped by Rs 11, or 0.21 per cent, to Rs 5,125 per barrel with a business volume of 5,407 lots.
Analysts said the fall in crude oil futures was mostly due to trimming of positions by traders amid a weak spot demand.
However, globally, West Texas Intermediate crude oil was trading flat at USD 69.99 per barrel.
However, Brent crude, the international benchmark, traded higher 0.33 per cent to trade at USD 73.27 per barrel in New York.
On the Multi Commodity Exchange, crude oil for the September delivery dropped by Rs 11, or 0.21 per cent, to Rs 5,125 per barrel with a business volume of 5,407 lots.
Analysts said the fall in crude oil futures was mostly due to trimming of positions by traders amid a weak spot demand.
However, globally, West Texas Intermediate crude oil was trading flat at USD 69.99 per barrel.
However, Brent crude, the international benchmark, traded higher 0.33 per cent to trade at USD 73.27 per barrel in New York.
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