Crude oil futures for June delivery slipped ₹122, or 1.69%, to ₹7,090 per barrel.
Analysts said participants offloaded holdings amid weak demand in the spot market.
WTI fell to $74.88 a barrel and Brent to $77.80 a barrel.
Crude Oil Futures Fall Amid Weak Global Trends
Weak demand in the spot market and softer international benchmarks dragged crude prices lower in futures trade
Crude Oil Futures Fall Amid Weak Global Trends
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Crude oil price declined by ₹122 to ₹7,090 per barrel in the futures trade on Thursday amid weak global trends.
On the Multi Commodity Exchange, crude oil futures for June delivery slipped by ₹122, or 1.69%, to ₹7,090 per barrel in a business turnover of 1,070 lots.
Analysts said the prices fell after participants offloaded their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil was trading 2.49 per cent lower at $74.88 per barrel, while Brent Crude fell 2.20% to $77.80 per barrel in New York.