Crude Oil Futures Plummet on Weak Global Cues and Demand Concerns

Crude oil futures plummeted nearly 5% on Monday due to weak global cues and demand concerns, according to market analysts.

The global benchmarks followed suit, with WTI down 5.2% and Brent slipping 4.9% amidst weakening market sentiment.

Crude oil prices fell by $419 to $8,185 per barrel in the futures trade on Monday amid weak global trends.

On the Multi Commodity Exchange, crude oil futures for the August delivery slipped by $419, or 4.87%, to $8,185 per barrel in a business turnover of 10,482 lots.