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Crude oil was up 1.14 per cent at Rs 3,183 per barrel at the futures market today as speculators widened their bets, taking positive cues from global markets.
At the Multi Commodity Exchange, crude oil for delivery in May rose Rs 36 or 1.14 per cent to Rs 3,183 per barrel in a business turnover of 2,956 lots.
Likewise, the oil for delivery in far-month June was trading higher by Rs 35 or 1.1 per cent to Rs 3,219 per barrel in 126 lots.
Analysts said widening of positions by speculators on the back of a rebound in global market, where crude climbed back above $49 a barrel after tumbling on concern over a supply glut, influenced crude futures here.
Meanwhile, West Texas Intermediate (WTI) gained 47 cents or 0.96 per cent to $49.44, while Brent crude rose 48 cents or 0.93 per cent to $51.92 per barrel.
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