- crude oil futures dip on weak spot demand
- the prices for crude oil fell by Rs 61 to Rs 5,010 per barrel
- fall in crude oil futures was mostly due to trimming of positions by traders amid a weak spot demand
On the Multi Commodity Exchange, crude oil for September delivery dropped by Rs 61, or 1.2 percent, to Rs 5,010 per barrel with a business volume of 4,204 lots says an article on Economic Times.
Fall in prices
Crude oil prices on Tuesday fell by Rs 61 to Rs 5,010 per barrel after participants cut their positions. On the Multi Commodity Exchange, crude oil for September delivery dropped by Rs 61, or 1.2 percent, to Rs 5,010 per barrel with a business volume of 4,204 lots.
Weak spot demand
Analysts said the fall in crude oil futures was mostly due to the trimming of positions by traders amid a weak spot demand. Globally, West Texas Intermediate crude oil was trading 1.23 percent lower at USD 68.
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Source: Economic Times
