Crude oil futures decline on low demand

Crude oil futures decline on low demand

Crude oil futures fell 0.36 per cent to Rs 2,738 per barrel on Tuesday as participants reduced their positions on low demand.

On the Multi Commodity Exchange, crude oil for September delivery fell Rs 10, or 0.36 per cent, to Rs 2,738 per barrel with a business volume of 4,553 lots.

Crude oil for October delivery quoted lower by Rs 6, or 0.22 per cent, at Rs 2,776 per barrel with an open interest of 248 lots.

Globally, West Texas Intermediate crude oil was trading 0.13 per cent lower at USD 37.21 per barrel, while Brent crude was quoting 0.23 per cent lower at USD 39.52 per barrel in New York.