Crude oil futures decline Rs 63 amid weak global cues
Crude oil futures declined by Rs 63 to Rs 6,901 per barrel on the Multi Commodity Exchange amid weak global trends. Analysts attributed the fall to profit-booking and weak spot demand, while benchmark international crude prices also traded lower
New Delhi: Crude oil prices fell by Rs 63 to Rs 6,901 per barrel in futures trade on Wednesday amid weak global trends.
On the Multi Commodity Exchange, crude oil futures for July delivery slipped by Rs 63, or 0.9 per cent, to Rs 6,901 per barrel in a business turnover of 5,109 lots.
Analysts said prices fell after participants offloaded their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil was trading 0.93 per cent lower at USD 76.32 per barrel, while Brent Crude fell 1.30 per cent to USD 0.99 per barrel in New York.
