Crude oil price falls in futures trade on weak global cues

Crude oil futures for September delivery slip by ₹18, or 0.22%, to ₹8,286 per barrel on MCX

Crude oil prices experienced a decline of ₹18, reaching ₹8,286 per barrel in the futures trade on Friday, according to the Multi Commodity Exchange. The September delivery futures for crude oil saw a decrease of ₹18, or 0.22 percent, in a business turnover of 3,477 lots. Analysts attributed the price drop to participants offloading their holdings due to weak demand in the spot market.

On the global stage, West Texas Intermediate crude was trading 0.58 percent lower at $86.33 per barrel, while Brent crude declined 0.35 percent to $93.45 per barrel in New York.

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