Commodities
Crude Oil Prices Plummet Amid Weak Global Trends
Crude oil futures took a hit on Friday due to weak global cues and reduced demand in the spot market. On the Multi Commodity Exchange (MCX), crude oil futures for October delivery fell by Rs 233, or 2.54 per cent, to Rs 8,934 per barrel.
The decline was attributed to participants offloading their holdings amid weak demand in the spot market, according to analysts.
Globally, West Texas Intermediate (WTI) crude was trading 1.75 per cent lower at USD 92.95 per barrel, while Brent crude declined 0.94 per cent to USD 105.60 per barrel in New York.