Commodities
Global Weakness Drives Crude Oil Futures Down Rs 168
Crude oil futures fell sharply in India due to weak global trends and low demand. The price of crude oil for October delivery dropped by Rs 168, or 1.72%, to Rs 9,590 per barrel on the Multi Commodity Exchange. This decline occurred as participants offloaded their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate (WTI) and Brent crude also experienced price drops. WTI was trading 1.73% lower at USD 100.15 per barrel, while Brent crude declined 1.88% to USD 102.85 per barrel in New York.