New Delhi, Feb 4 (PTI) – Crude oil futures witnessed a dip on Tuesday, falling by ₹53 to ₹6,281 per barrel in futures trade as traders reduced their holdings amid weak global demand.
On the Multi Commodity Exchange (MCX), the February delivery contract saw a decline of 0.84%, trading at ₹6,281 per barrel with 5,827 lots exchanged.
Analysts attributed the price drop to weak global cues and selling pressure from market participants. The international crude oil market also reflected this downturn, with West Texas Intermediate (WTI) crude slipping 1.49% to $72.07 per barrel, while Brent crude was down 0.83%, trading at $75.33 per barrel in New York.
The decline highlights ongoing concerns over global energy demand and economic trends, influencing crude oil prices in both domestic and international markets.
