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Crude oil futures prices rose 1.85 per cent to Rs 3,359 per barrel today as speculators created positions amid a firm trend in Asia.
On the Multi Commodity Exchange, crude oil for delivery in April was trading higher by Rs 61 or 1.85 per cent at Rs 3,359 per barrel with a business turnover of 541 lots.
The oil for May delivery moved up by Rs 44 or 1.29 per cent to Rs 3,451 per barrel with a business volume of 24 lots.
Marketmen said the rise in crude oil futures was largely in tandem with a firm trend in Asian trade, as signs that refineries’ strike in the US is weakening, overshadowed a rise in US crude stocks.
Meanwhile, West Texas Intermediate crude prices advanced by 29 cents to $51.82, while Brent gained six cents to $60.61 a barrel, respectively in late morning trade on the New York Mercantile Exchange.
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