Crude oil futures dip on weak spot demand

Crude oil prices on Thursday fell Rs 32 to Rs 4,637 per barrel after the participants reduced their positions.
Crude oil futures dip on weak spot demand
Representative image

New Delhi

On the Multi Commodity Exchange, crude oil for the June delivery dropped by Rs 32, or 0.69 per cent, to Rs 4,637 per barrel with a business volume of 5,761 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 0.35 per cent lower at USD 63.14 per barrel.
Meanwhile, Brent crude, the international benchmark, fell 0.06 per cent to trade at USD 66.62 per barrel in New York.

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