Crude oil futures decline on MCX due to weak global cues and oversupply worries. May delivery slips to Rs 8,030 per barrel.
New Delhi, Apr 21 (PTI) Crude oil prices fell Rs 154 to Rs 8,030 per barrel in the futures trade on Tuesday, amid weak global trends as oversupply concerns weighed on prices.
On the Multi Commodity Exchange, crude oil futures for May delivery slipped by Rs 154, or 1.88 per cent, to Rs 8,030 per barrel in a business turnover of 4,226 lots.
Analysts said the prices fell after participants offloaded their holdings amid weak demand in the spot market.
Globally, West Texas Intermediate crude oil was trading 1.14 per cent lower at USD 88.59 per barrel, while Brent Crude fell 1.27 per cent to USD 94.27 per barrel in New York.