Crude oil futures dip on weak spot demand
On the Multi Commodity Exchange, crude oil for the September delivery dropped by Rs 4, or 0.08 per cent, to Rs 5,091 per barrel with a business volume of 5,142 lots.
By PTI |
Agencies
NEW DELHI: Crude oil prices on Thursday fell Rs 4 to Rs 5,091 per barrel after participants cut their positions.
On the Multi Commodity Exchange, crude oil for the September delivery dropped by Rs 4, or 0.08 per cent, to Rs 5,091 per barrel with a business volume of 5,142 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 0.35 per cent lower at USD 69.06 per barrel.
Meanwhile, Brent crude, the international benchmark, fell 0.17 per cent to trade at USD 72.46 per barrel in New York.
On the Multi Commodity Exchange, crude oil for the September delivery dropped by Rs 4, or 0.08 per cent, to Rs 5,091 per barrel with a business volume of 5,142 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 0.35 per cent lower at USD 69.06 per barrel.
Meanwhile, Brent crude, the international benchmark, fell 0.17 per cent to trade at USD 72.46 per barrel in New York.
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