Crude oil futures decline amid weak spot demand

By Nick J Adam On Jun 18, 2021

NEW DELHI: Crude oil prices on Friday fell by Rs 13 to Rs 5,229 per barrel after the participants cut their positions.

On the Multi Commodity Exchange, crude oil for the June delivery dropped by Rs 13, or 0.25 per cent, to Rs 5,229 per barrel with a business volume of 2,750 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 0.44 per cent lower at USD 70.73 per barrel.

Meanwhile, Brent crude, the international benchmark, fell 0.56 per cent to trade at USD 72.67 per barrel in New York.

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