Crude oil futures slip on sluggish demand

Futures prices of crude oil declined by Rs 8 to Rs 3535 per barrel today owing to slack in demand. At the Multi Commodity Exchange,crude oil for May contract declined by Rs 8 or 0.23 per cent to Rs 3535 per barrel with an open interest of 20291 lots.

Futures prices of crude oil declined by Rs 8 to Rs 3535 per barrel today owing to slack in demand.

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At the Multi Commodity Exchange,crude oil for May contract declined by Rs 8 or 0.23 per cent to Rs 3535 per barrel with an open interest of 20291 lots.

Similarly, the oil for delivery in June contract traded marginally lower by Rs 2 or 0.05 per cent to Rs 3678 per barrel in 4643 lots.

Market analysts said, subdued demand was the prime reason for the fall in crude oil prices at futures trade here.

Meanwhile, crude oil for delivery in June, slid by 72 cents to USD 79.25 a barrel in New York last night.