1 week ago
Crude Oil Futures Fall Amid Weak Global Demand Trends
Crude oil prices went down in futures trading.
A barrel of crude fell by Rs 132, reaching Rs 7,705.
Futures for delivery in September dropped by 1.68 percent.
Traders sold some of their holdings.
Analysts said demand in the spot market was weak.
Prices also fell in global trading.
West Texas Intermediate crude traded at $80.57 per barrel.
Brent crude traded at $86.72 per barrel in New York.
Crude oil futures fell by Rs 132 to Rs 7,705 per barrel.
September-delivery crude oil futures declined 1.68% in 5,216 lots.
Analysts attributed the decline to holdings being offloaded amid weak spot-market demand.
West Texas Intermediate crude traded 2.17% lower at $80.57 per barrel.
Brent crude declined 2.10% to $86.72 per barrel in New York.
- Who
- Crude oil traders and market participants.
- What
- Crude oil futures and global benchmark prices declined.
- Where
- The futures trade and New York markets.
- When
- The article does not specify a date or time.
- Why
- Analysts cited weak spot-market demand and participants selling their holdings.
Key facts
- Local futures price
- Rs 7,705 per barrel
- Price change
- Down Rs 132 per barrel
- September futures change
- Down 1.68%
- September futures volume
- 5,216 lots
- West Texas Intermediate
- Down 2.17% to $80.57 per barrel
- Brent crude
- Down 2.10% to $86.72 per barrel
- Stated cause
- Weak spot-market demand and offloading of holdings
Sources
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