Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

Crude Oil Futures Dip On Weak Spot Demand

On the Multi Commodity Exchange, crude oil for the May delivery dropped by Rs 28, or 0.58 per cent, to Rs 4,762 per barrel with a business volume of 6,182 lots.

Photo Credit :

1615260410_3UmGVg_2021_03_09T020642Z_1_LYNXMPEH28043_RTROPTP_4_GLOBAL_OIL_KEMP.JPG

Crude oil prices on Friday fell by Rs 28 to Rs 4,762 per barrel in the futures trade after the participants reduced their positions.

On the Multi Commodity Exchange, crude oil for the May delivery dropped by Rs 28, or 0.58 per cent, to Rs 4,762 per barrel with a business volume of 6,182 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 0.15 per cent lower at USD 64.61 per barrel.

Meanwhile, brent crude, the international benchmark, lowered 0.10 per cent to trade at USD 68.02 per barrel in New York. 

(PTI)


Tags assigned to this article:
crude oil oil prices oil demand brent crude oil