Brent Crude Plunges Amid Weak Global Trends

Crude oil prices declined in futures trade on Thursday due to weak global trends. In India, crude oil futures for September delivery slipped by 1.21% in a business turnover of 7,393 lots. This drop was attributed to participants offloading their holdings amid weak demand in the spot market.

The price of Brent crude also fell by 1.16% to $94.52 per barrel. Analysts stated that the prices decreased after investors unloaded their positions due to low demand globally.