Get App
Moneycontrol

Co-Partners

Associate Partners

Last Updated : May 15, 2019 03:13 PM IST | Source: PTI

Crude oil prices decline 1.13% on global cues

On the Multi Commodity Exchange, crude for delivery in May fell by Rs 49, or 1.13 percent, to Rs 4,303 per barrel in a business volume of 17,840 lots.

Crude oil prices Wednesday fell by 1.13 percent to Rs 4,303 per barrel as speculators indulged in reducing holdings amid a weakening trend overseas.

On the Multi Commodity Exchange, crude for delivery in May fell by Rs 49, or 1.13 percent, to Rs 4,303 per barrel in a business volume of 17,840 lots.

Analysts said continuous off-loading of holdings by participants in line with a weakening global trend mainly weighed on crude prices at futures trade here.

Globally, prices spiralled down on rising US inventories and Saudi Arabia's supply assurance, analysts said.

Moreover, a strengthening Indian rupee also exerted pressure on crude prices.

Oil for delivery in June also fell by Rs 52, or 1.19 percent, to Rs 4,331 per barrel in 2,164 lots.

The West Texas Intermediate (WTI) crude fell 0.91 percent to USD 61.22, while Brent crude, the international benchmark, shed 0.38 percent to USD 70.97 a barrel at the New York Mercantile Exchange.

Get Lok Sabha 2019 Live Election Results, constituency-wise tally, news, views and analysis
Follow our Lok Sabha Election Result Live Blog here.
First Published on May 15, 2019 03:05 pm
More From
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant