News

Crude oil futures dip on weak spot demand

NEW DELHI: Crude oil prices on Tuesday fell Rs 16 to Rs 5,414 per barrel after the participants cut their positions.

On the Multi Commodity Exchange, crude oil for the July delivery dropped by Rs 16, or 0.29 per cent, to Rs 5,414 per barrel with a business volume of 9,493 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 0.41 per cent lower at USD 73.36 per barrel.

Meanwhile, Brent crude, the international benchmark, fell 0.12 per cent to trade at USD 74.81 per barrel in New York.

Articles You May Like

Dollar Buying Emerges Again after Inflation Data, Yen Extending Fall
USDCAD trades back below 100 hour MA. Can the selller keep the momentum going
Forexlive Americas FX news wrap: Hot PCE report lifts the dollar further
EASY but Highly PROFITABLE Trading Strategy with The Best Indicator! #shorts
Live ( FOMC NEWS ) XAUUSD GOLD 5M Chart Scalping Forex Trading Strategy

Leave a Reply

Your email address will not be published. Required fields are marked *