Crude oil futures decline on weak spot demand

NEW DELHI: Crude oil prices on Thursday fell by Rs 20 to Rs 4,758 per barrel after participants reduced their positions.

On the Multi Commodity Exchange, crude oil for May delivery dropped by Rs 20, or 0.42 per cent, to Rs 4,758 per barrel with a business volume of 7,223 lots.

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

However, globally, West Texas Intermediate crude oil was trading 0.30 per cent higher at USD 64.05 per barrel.

Meanwhile, Brent Crude, the international benchmark, gained 0.37 per cent to trade at USD 67.52 per barrel in New York.

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