Mon Oct 07 17:01:07 UTC 2024: ## Crude Oil Prices Dip on Low Demand
**Mumbai, India** – Crude oil futures on the Multi Commodity Exchange (MCX) declined by 0.5 percent on Tuesday, closing at Rs5,739 per barrel. This drop was attributed to traders reducing their positions in response to weak demand.
Globally, oil prices exhibited mixed trends. West Texas Intermediate (WTI) crude rose by 0.18 percent to $68.29 per barrel in New York, while Brent crude also saw a slight increase, trading at $71.82 per barrel, representing a 0.17 percent rise.
The decline in MCX crude futures, however, suggests a weaker outlook for demand in the Indian market. The fall was likely driven by concerns about slowing global economic growth and its impact on oil consumption.
First Piper 