Commodities
Oil Prices Slump Amid Weak Global Trends
Crude oil futures fell on Wednesday due to weak global trends and reduced demand in the spot market.
The price of crude oil futures dropped by Rs 168 to Rs 9,571 per barrel on the Multi Commodity Exchange (MCX) for October delivery.
This decline was attributed to participants offloading their holdings amid weak demand in the spot market, according to analysts.
Globally, West Texas Intermediate crude was trading 1.11% lower at USD 104.65 per barrel, while Brent crude declined 0.73% to USD 107.96 per barrel in New York.