Latest News | Crude Oil Futures Dip on Weak Spot Demand

New Delhi, Aug 19 (PTI) Crude oil prices on Thursday fell Rs 166 to Rs 4,708 per barrel after participants cut their positions.

On the Multi Commodity Exchange, crude oil for the September delivery dropped by Rs 166, or 3.41 per cent, to Rs 4,708 per barrel with a business volume of 6,180 lots.

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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 3.36 per cent lower at USD 63.26 per barrel.

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Meanwhile, Brent crude, the international benchmark, fell 3.05 per cent to trade at USD 66.15 per barrel in New York. HRS hrs

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)