India, Jan. 14 -- Crude oil prices in the futures market declined on Wednesday, falling Rs 22 to Rs 5,507 per barrel, tracking weak global cues amid concerns over oversupply.
On the Multi Commodity Exchange, crude oil contracts for February delivery slipped by Rs 22, or 0.4 per cent, to Rs 5,507 per barrel, with a business turnover of 11,113 lots.
Analysts said the decline was driven by profit booking and offloading of positions, as weak spot market demand weighed on prices.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....