Crude oil futures fall on low demand
Crude oil contracts for most-traded September delivery traded lower by Rs 7, or 0.17 per cent, at Rs 4,000 per barrel.
New Delhi: Crude oil futures fell 0.17 per cent to Rs 4,000 per barrel on Thursday after speculators booked profits at existing levels amid subdued spot demand.
Crude oil contracts for most-traded September delivery traded lower by Rs 7, or 0.17 per cent, at Rs 4,000 per barrel with a business volume of 22,608 lots on Multi Commodity Exchange (MCX).
The crude oil contracts for October delivery traded down by Rs 11, or 0.27 per cent, to Rs 4,010 per barrel in a business turnover of 643 lots.
Analysts said fall in crude oil futures is mostly in tune with a weak trend in domestic markets where it slipped on profit-booking by speculators.
Meanwhile, the West Texas Intermediate gained 0.63 per cent to USD 56.10, while global benchmark Brent was up 0.59 per cent to USD 61.17 per barrel in New York.