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Commodities

Crude Oil Prices Plummet Amid Weak Global Trends

Guavy AI Editorial Team
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Oil
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Crude oil prices took a hit on Friday, plummeting by Rs 18 to Rs 8,286 per barrel in the futures trade. This decline was largely due to weak global trends and a decrease in demand in the spot market.

According to analysts, participants offloaded their holdings, contributing to the price drop. Crude oil futures for September delivery slipped 0.22% in 3,477 lots during this period.

Globally, West Texas Intermediate crude was trading 0.58% lower at $86.33 per barrel, while Brent crude declined 0.35% to $93.45 per barrel in New York.

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