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

Crude oil for the May delivery dropped by Rs 62, or 1.3 per cent, to Rs 4,716 per barrel with a business volume of 5,977 lots.

Photo Credit :

1604998230_LVJvMh_2020_11_10T004023Z_1_LYNXMPEGA9019_RTROPTP_4_GLOBAL_OIL.JPG

Crude oil prices on Tuesday fell Rs 62 to Rs 4,716 per barrel after the participants reduced their positions.

On the Multi Commodity Exchange, crude oil for the May delivery dropped by Rs 62, or 1.3 per cent, to Rs 4,716 per barrel with a business volume of 5,977 lots.

Analysts said the fall in crude oil futures was mostly due to trimming of positions by traders amid weak spot demand.

Globally, West Texas Intermediate crude oil was trading 1.12 per cent lower at USD 64.19 per barrel.

Meanwhile, Brent crude, the international benchmark, fell 1.07 per cent to trade at USD 67.59 per barrel in New York. 

(PTI)


Tags assigned to this article:
crude oil oil prices oil demand Spot Demand