Crude Oil Futures Drop on Weak Global Demand, Oversupply Fears

 New Delhi, Apr 21 (BNP): Crude oil prices fell in futures trade on Tuesday, tracking weak global cues and concerns over excess supply in the international market.

On the Multi Commodity Exchange (MCX), crude oil futures for May delivery declined by ₹154, or 1.88%, to ₹8,030 per barrel, with a trading volume of 4,226 lots.

Analysts said the fall was driven by selling pressure as traders trimmed positions amid subdued demand in the spot market. Expectations of ample global supply further weighed on sentiment, keeping prices under pressure.