Crude oil futures dip on weak spot demand

By: |
November 05, 2021 5:39 PM

On the Multi Commodity Exchange, crude oil for the November delivery dropped by Rs 278, or 4.49 per cent, to Rs 5,915 per barrel with a business volume of 6,305 lots.

Analysts said the fall in crude oil futures was due to the trimming of positions by traders amid a weak spot demand.Analysts said the fall in crude oil futures was due to the trimming of positions by traders amid a weak spot demand.

Crude oil prices on Friday fell Rs 278 to Rs 5,915 per barrel after participants cut their positions.

On the Multi Commodity Exchange, crude oil for the November delivery dropped by Rs 278, or 4.49 per cent, to Rs 5,915 per barrel with a business volume of 6,305 lots.

Analysts said the fall in crude oil futures was due to the trimming of positions by traders amid a weak spot demand.

Globally, West Texas Intermediate crude oil was trading 0.85 per cent higher at USD 79.48 per barrel.

Meanwhile, Brent crude, the international benchmark, gained 0.62 per cent to trade at USD 81.04 per barrel in New York.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Gold tumbles Rs 302; silver declines Rs 81
2Cane arrear reaches Rs 4,445 cr in 2020-21 season, maximum in UP: Centre
3Petrol to be cheaper by Rs 8 per litre in Delhi as AAP govt decides to cut VAT: Sources