Brent Crude hovers lower to $59.67/bbl

Crude oil futures declined by Rs 40 to Rs 5,074 per barrel as participants trimmed their positions amid weak demand in the spot market. Crude oil for January delivery fell 0.78 per cent in 2,1930 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 0.23 per cent lower at $56.02 per barrel, while Brent Crude fell 0.25 per cent to $59.67 per barrel in New York.