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Commodities

Crude Oil Prices Plummet on MCX Amid Weak Global Trends

Guavy AI Editorial Team
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Oil
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Crude oil futures on the Multi Commodity Exchange (MCX) declined by Rs 132 to Rs 7,705 per barrel on Wednesday due to weak global trends and decreasing spot market demand.

The September delivery of crude oil futures slipped by 1.68% in a business turnover of 5,216 lots.

Analysts pointed out that the prices fell as participants offloaded their holdings amid weak demand in the spot market.

Globally, West Texas Intermediate (WTI) crude was trading 2.17% lower at USD 80.57 per barrel, while Brent crude declined by 2.10% to USD 86.72 per barrel in New York.

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