Brent crude trading lower at $83.45/bbl

Crude oil futures on Wednesday declined by 0.99 per cent to Rs6,575 per barrel as participants trimmed their positions on low demand. On MCX, crude oil for September delivery fell by Rs66 or 0.99 per cent to Rs6,575 per barrel with a business volume of 5,432 lots. Globally, West Texas Intermediate (WTI) crude oil was trading 0.70 per cent lower at $79.08 per barrel, and Brent crude was down 0.69 per cent at $83.45 per barrel in New York.