Crude oil futures fall to Rs 7,705 per barrel tracking global cues

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Crude oil prices fell by Rs 132 to Rs 7,705 per barrel in the futures trade on Wednesday amid weak global trends.

On the Multi Commodity Exchange, crude oil futures for September delivery slipped by Rs 132, or 1.68 per cent, to Rs 7,705 per barrel in a business turnover of 5,216 lots.

Analysts said the prices fell after participants offloaded their holdings amid weak demand in the spot market.

Globally, West Texas Intermediate crude was trading 2.17 per cent lower at USD 80.57 per barrel, while Brent crude declined 2.10 per cent to USD 86.72 per barrel in New York.

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