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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 Monday, falling to Rs 8,192 per barrel in futures trade. The decline was attributed to weak global trends and participants offloading their holdings amid low demand in the spot market.

The Brent crude price declined by 1.39% to $93.08 per barrel in New York, while West Texas Intermediate (WTI) crude fell 1.79% to $85.50 per barrel. The futures trade for September delivery saw a slip of 0.2% in 8,897 lots.

Analysts pointed out that the prices dropped after participants unloaded their holdings due to weak demand. No specific figures or targets were mentioned by any analysts in the source.

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