Crude Oil Futures Fall as Global Prices Weaken

Crude oil prices became slightly cheaper on Friday.

In the futures market, prices fell by Rs 18 to Rs 8,286 per barrel.

Futures are agreements to buy or sell something later at a set price.

Contracts for oil delivery in September dropped 0.22%.

Analysts said demand in the immediate, or spot, market was weak.

When demand is weak, prices can fall because buyers are purchasing less.

West Texas Intermediate crude traded at $86.33 per barrel.

Brent crude traded at $93.45 per barrel in New York.