Crude Oil Futures Decline Nearly 1% to Rs 8,565/Barrel; Brent Slips Below USD 96

New Delhi: Crude oil prices declined by nearly 1 per cent to Rs 8,565 per barrel in futures trade on Friday, tracking a weak trend in the international markets.

On the Multi Commodity Exchange (MCX), crude oil futures for September delivery slipped Rs 78, or nearly 1 per cent, to Rs 8,565 per barrel.

The October contract also fell by Rs 43, or 0.51 per cent, to Rs 8,312 per barrel on the MCX.

Analysts said crude oil prices came under pressure as investors booked profits following recent gains, while uncertainty over demand and the global economic outlook weighed on sentiment.

Also Read: How To Invest In Crude Oil

Globally, Brent oil futures for November delivery slipped 0.39 per cent to USD 95.15 per barrel on the Intercontinental Exchange.

West Texas Intermediate crude for the October contract traded 0.47 per cent lower at USD 90.87 a barrel on the New York Mercantile Exchange.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)