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Crude Oil Futures Drop Amid Weak Global Cues and Demand Concerns
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News18•01-10-2026, 13:30
Crude Oil Futures Drop Amid Weak Global Cues and Demand Concerns
- •Crude oil futures fell by Rs 39 to Rs 8,695 per barrel in Thursday's trade.
- •The decline was attributed to weak global trends and participants offloading holdings.
- •On the Multi Commodity Exchange, October delivery futures slipped 0.45% in a turnover of 9,015 lots.
- •Analysts noted the price drop was due to weak demand in the spot market.
- •Globally, West Texas Intermediate crude was down 0.70% at USD 89.79, and Brent crude declined 0.37% to USD 97.67 per barrel.
Key Questions Answered
Crude oil futures for October delivery on the Multi Commodity Exchange slipped by Rs 39, or 0.45 per cent, to settle at Rs 8,695 per barrel.
Analysts noted that prices fell after market participants offloaded their holdings due to weak demand in the spot market and negative global trends.
Globally in New York, West Texas Intermediate crude was trading 0.70 per cent lower at USD 89.79 per barrel, while Brent crude declined by 0.37 per cent to USD 97.67 per barrel.
